Go44 is a motivational consulting business. At the end of its accounting period, December 31, 2015, Go44

Question:

Go44 is a motivational consulting business. At the end of its accounting period, December 31, 2015, Go44 has assets of $720,000 and liabilities of $180,000. Using the accounting equation and considering each case independently, determine the following amounts:
a. Stockholders' equity as of December 31, 2015.
b. Stockholders' equity as of December 31, 2016, assuming that assets increased by $96,500 and liabilities increased by $30,000 during 2016.
c. Stockholders' equity as of December 31, 2016, assuming that assets decreased by $168,000 and liabilities increased by $15,000 during 2016.
d. Stockholders' equity as of December 31, 2016, assuming that assets increased by $175,000 and liabilities decreased by $18,000 during 2016.
e. Net income (or net loss) during 2016, assuming that as of December 31, 2016, assets were $880,000, liabilities were $220,000, and no additional was issued or dividends paid. Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...