Using the Basic Accounting Equation Use the basic accounting equation to answer the following:

a. Perkins Company has total assets of $420,000 and total liabilities of $252,000. How much is the companys total stockholders equity?

$Answer

b. Gassol Company has total liabilities of $476,000 and total stockholders equity of $266,000. How much total assets does the company have?

$Answer

c. If Brown Companys total assets increased by $98,000 during the year, and its total liabilities decreased during the same year by $14,000, what was the change in the companys total stockholders equity?

$Answer Answer: decrease or increase