The Accounting Equation Ginger Enterprises began the year with total assets of $625,000 and total liabilities of $306,000. Using this information and the accounting equation, answer each of the following independent questions. 1. What was the amount of Ginger's owners' equity at the beginning of the year? $ 319,000 2. If Ginger's total assets increased by $119,000 and its total liabilities increased by $75,000 during the year, what was the amount of Ginger's owners' equity at the end of the year? $ 283,000 3. If Ginger's total liabilities increased by $40,000 and its owners' equity decreased by $73,000 during the year, what was the amount of its total assets at the end of the year? 475,000 4. If Ginger's total assets doubled to $1,250,000 and its owners' equity remained the same during the year, what was the amount of its total liabilities at the end of the year? 750,000