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Question - Jan Petri is the owner and operator of Go-For-It LLC, a motivational consulting business. At the end of its accounting period, December 31, 20Y8, Go-For-It has assets of $837,000 and liabilities of $201,000. Using the accounting equation, determine the following amounts:
a. Determine the owner's equity as of December 31, 20Y8.
b. Determine the owner's equity as of December 31, 2019, assuming that assets increased by $159,000 and liabilities Increased by $48,000 during 2019.
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