Inspirational Inc. is a motivational consulting business. At the end of its accounting...
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Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 20Y2, Inspirational has assets of $863,870 and liabilities of $272,980. Using the accounting equation and considering each case independently, determine the following amounts: a. Stockholders' equity as of October 31, 20Y2. $ b. Stockholders' equity as of October 31, 2043, assuming that assets increased by $136,490 and liabilities increased by $82,070 during 2073. c. Stockholders' equity as of October 31, 2043, assuming that assets decreased by $68,250 and liabilities increased by $24,190 during 20Y3. d. Stockholders' equity as of October 31, 2043, assuming that assets increased by $114,030 and liabilities decreased by $43,190 during 20Y3. e. Net income (or net loss) during 20Y3, assuming that as of October 31, 2043, assets were $1,088,480, liabilities were $177,090, and no additional common stock was issued or dividends paid
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