4 Accounting equationCaptivating Your Audience is a motivational consulting business owned and operated by Edith Kittrell. At the end of its accounting period, May 31, 20Y2, Captivating hasassets of $6,650,000 and liabilities of $1,850,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the requiredanalysis, and input your answers in the questions below.XOpen spreadsheetUsing the accounting equation and considering each case independently, determine the following amounts:a. Owner's equity as of May 31, 20Y2.4,800,000 ✓b. Owner's equity as of May 31, 20Y3, assuming that assets increased by $750,000 and liabilities increased by $300,000 during 20Y3.C.Owner's equity as of May 31, 20Y3, assuming that assets decreased by $700,000 and liabilities increased by $280,000 during 2013.d. Owner's equity as of May 31, 20Y3, assuming that assets increased by $350,000 and liabilities decreased by $150,000 during 2013.e. Net income (or net loss) during 20Y3, assuming that as of May 31, 20Y3, assets were $6,700,000, liabilities were $1,500,000, and the owner made no additionalinvestment in the business or withdrew any cash for personal use.FeedbackCheck My Work

Name: 4 Accounting equationCaptivating Your Audience is a motivational consu
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Description: 4 Accounting equationCaptivating Your Audience is a motivational consulting business owned and operated by Edith Kittrell. At the end of its accounting period, May 31, 20Y2, Captivating hasassets of $6,650,000 and liabilities of $1,850,000. This info

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Using the accounting equation and considering each case independently, determine the following amounts: a. Owner's equity as of May 31, 2012. 4,800,000 ✓ b. Owner's equity as of May 31, 20Y3, assuming that assets increased by $750,000 and liabilities increased by $300,000 during 2013. C. Owner's equity as of May 31, 20Y3, assuming that assets decreased by $700,000 and liabilities increased by $280,000 during 20Y3. d. Owner's equity as of May 31, 20Y3, assuming that assets increased by $350,000 and liabilities decreased by $150,000 during 20Y3.