Terry Fleming is the owner and operator of Go-For-It LLC, a motivational consulting business. At the end of its accounting period, December 31, 20Y8, Go-For-It has assets of $780,000 and liabilities of $187,000. Using the accounting equation, determine the following amounts:

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

b. Owner's equity as of December 31, 20Y9, assuming that assets increased by $148,000 and liabilities increased by $45,000 during 20Y9. $