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Todd Olson is the stockholder and operator of Alpha, a motivational consulting business. At the end of its accounting period, December 31, 2015, Alpha has
Todd Olson is the stockholder and operator of Alpha, a motivational consulting business. At the end of its accounting period, December 31, 2015, Alpha has assets of $585,260 and liabilities of $184,940. Using the accounting equation and considering each case independently, determine the following amounts. Stockholders' equity as of December 31, 2015. Stockholders' equity as of December 31, 2016, assuming that assets increased by $92,470 and liabilities increased by $55,600 during 2016. Stockholders' equity as of December 31, 2016, assuming that assets decreased by $46,240 and liabilities increased by $16,390 during 2016. Stockholders' equity as of December 31, 2016, assuming that assets increased by $77,250 and liabilities decreased by $29,260 during 2016. Net income (or net loss) during 2016, assuming that as of December 31, 2016, assets were $737,430, liabilities were $119,980, and no additional capital stock was issued or dividends paid
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