Shannon Cook is the stockholder and operator of Galaxy LLC, a motivational consultingbusiness. At the end of itsaccountingperiod, December 31, 20Y2, Galaxy hasassetsof $799,000 andliabilitiesof $192,000. Using the accounting equation, determine the following amounts:

a.Stockholders' equityas of December 31, 20Y2.

B. Stockholders' equity as of December 31, 20Y3, assuming that assets increased by $152,000 and liabilities increased by $46,000 during 20Y3.

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