Shannon Cook is the stockholder and operator of Galaxy LLC, a motivational consulting business. At the end of its accounting period, December 31, 20Y2, Galaxy has assets of $513,000 and liabilities of $123,000. Using the accounting equation, determine the following amounts:

a. Stockholders' equity as of December 31, 20Y2.

b. Stockholders' equity as of December 31, 20Y3, assuming that assets increased by $97,000 and liabilities increased by $30,000 during 20Y3.