Inspirational Co. is a motivational consulting business. At the end of its accounting period, December 31, 2017, Inspirational has assets of $567,480 and liabilities of $179,320. Determine the Stockholders' equity as of December 31, 2018, assuming that assets decreased by $44,830 and liabilities increased by $15,890 during 2018.

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
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Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
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Inspirational Co. is a motivational consulting business. At the
end of its accounting period, December 31, 2017, Inspirational
has assets of $567,480 and liabilities of $179,320. Determine the
Stockholders' equity as of December 31, 2018, assuming that
assets decreased by $44,830 and liabilities increased by $15,890
during 2018.
Transcribed Image Text:Inspirational Co. is a motivational consulting business. At the end of its accounting period, December 31, 2017, Inspirational has assets of $567,480 and liabilities of $179,320. Determine the Stockholders' equity as of December 31, 2018, assuming that assets decreased by $44,830 and liabilities increased by $15,890 during 2018.
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