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Determine the Stockholders equity as of December

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Question - Dave Ryan is the CEO of Ryan's Arcade. At the end of its accounting period, December 31, Ryan's Arcade has assets of $652,990 and liabilities of $253,160. Using the accounting equation, determine the following amounts:

a. Stockholders' equity as of December 31 of the current year.

b. Stockholders' equity as of December 31 at the end of the next year, assuming that assets increased by $82,970 and liabilities increased by $17,870 during the year.

Reference no: EM132675596

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