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Accounting Equation Lynn Shackelford is the stockholder and operator of Way to Go LLC, a...

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Accounting

Accounting Equation

Lynn Shackelford is the stockholder and operator of Way to Go LLC, a motivational consulting business. At the end of its accounting period, December 31, 2017, Way to Go has assets of $529,000 and liabilities of $127,000. 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 increased by $101,000 and liabilities increased by $30,000 during 2018. $______

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