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Business, 06.05.2020 00:41 queenkimm26

Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 20Y2, Inspirational has assets of $685,960 and liabilities of $216,760. Using the accounting equation and considering each case independently, determine the following amounts: a. Stockholders' equity as of October 31, 20Y2. $ 469,200 b. Stockholders' equity as of October 31, 20Y3, assuming that assets increased by $108,380 and liabilities increased by $65,170 during 20Y3. $ 512,410 c. Stockholders' equity as of October 31, 20Y3, assuming that assets decreased by $54,190 and liabilities increased by $19,210 during 20Y3. $ -73,400 d. Stockholders' equity as of October 31, 20Y3, assuming that assets increased by $90,550 and liabilities decreased by $34,300 during 20Y3. $ e. Net income (or net loss) during 20Y3, assuming that as of October 31, 20Y3, assets were $864,310, liabilities were $140,620, and no additional common stock was issued or dividends paid. Net income $ 723,690

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