Sid Summitt is the stockholder and operator of Personality Shine LLC, a motivational consulting business

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Sid Summitt is the stockholder and operator of Personality Shine LLC, a motivational consulting business. At the end of its accounting period, December 31, 2015, Personality Shine has assets of $811,000 and liabilities of $195,000. Using the accounting equation, determine the following amounts:

a. Stockholders' equity as of December 31, 2015?

b. Stockholders' equity as of December 31, 2016, assuming that assets decreased by $154,000 and liabilities increased by $47,000 during 2016?