Question 3 The accounting equation for Pharoah Company is as follows: Liabilities Assets $121200 = Stockholders' Equity $60600 $60600 If Pharoah purchases office equipment on account for $26700, the accounting equation will change to Assets Liabilities Stockholders' Equity $147900 $60600 + $87300 $147900 $87300 + $60600 $121200 $60600 + $60600 $147900 $73950 + $73950