Dave Ryan Is the CEO of Ryan's Arcade $\$ 65,000$ And Liabilities Increased By

Essay

Dave Ryan is the CEO of Ryan's Arcade. At the end of its accounting period, December 31, Ryan's Arcade has assets of $450,000 and liabilities of $125,000. 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 $\$ 65,000$ and liabilities increased by $\$ 35,000$ during the year