QS 1-7 (Algo) Applying the accounting equation LO A1 a. Total assets of Charter Company equal $730,000 and its equity is $435,000. What is the amount of its liabilities? b. Total assets of Martin Marine equal $530,000 and its liabilities and equity amounts are equal to each other. What is the amount of its liabilities? What is the amount of its equity? + $ Assets Liabilities + a. $ 730,000 = b. $ 530,000 = + Equity 435,000