Be-The-One is a motivational consulting business. At the end of its accounting period, December 31, 2015, Be-The-One has assets of $395,000 and liabilities of $97,000. Using the accounting equation, determine the following amounts:
a. Stockholders' equity as of December 31, 2015.
b. Stockholders' equity as of December 31, 2016, assuming that assets decreased by $65,000 and liabilities increased by $36,000 during 2016.