Sid Summitt is the stockholder and operator of Our Idol LLC, a motivational consulting business. At the end of its accounting period, December 31, 2017, Our Idol has assets of $617,000 and liabilities of $148,000. Using the accounting equation, determine the following amounts:

a. Stockholders' equity as of December 31, 2017. $

b. Stockholders' equity as of December 31, 2018, assuming that assets decreased by $117,000 and liabilities decreased by $36,000 during 2018. $