Patrick Miller is the owner and operator of Chicopee LLC, a motivational consulting business. At the end of its accounting period, December 31, 20Y8, Chicopee has assets of $518,000 and liabilities of $165,000. Using the accounting equation, determine the following amounts:

a. Owner's equity as of December 31, 20Y8. $____________

b. Owners equity as of December 31, 20Y9, assuming that assets increased by $86,200 and liabilities increased by $25,000 during 20Y9. $_______