Inspirational Inc. is a motivational consulting business. At the end of its accounting period, December 31, 2017, Inspirational has assets of \$702,990 and liabilities of \$222,140. Using the accounting equation and considering each case independently, determine the following amounts.
a. Stockholders' equity as of December 31, 2017.
b. Stockholders' equity as of December 31, 2018, assuming that assets increased by \$111,070 and liabilities increased by \$66,780 during 2018.
c. Stockholders' equity as of December 31, 2018, assuming that assets decreased by \$55,540 and liabilities increased by \$19,680 during 2018.
d. Stockholders' equity as of December 31, 2018, assuming that assets increased by \$92,790 and liabilities decreased by \$35,150 during 2018.
e. Net income (or net loss) during 2018, assuming that as of December 31, 2018, assets were \$885,770, liabilities were \$144,110, and no additional capital stock was issued or dividends paid.