Irrational, Inc., is obligated to pay its creditors $8,550 during the year. Required: (a) What is the value of the shareholders’ equity if assets equal $9,600? (Do not include the dollar sign ($).) Shareholders’ equity $ (b) What is the value of the shareholders’ equity if assets equal $7,200? (Do not include the dollar sign ($).) Shareholders’ equity $

Irrational, Inc., is obligated to pay its creditors $8,550 during the year.  

Required:

(a)	What is the value of the shareholders’ equity if assets equal $9,600? (Do not include the dollar sign ($).)

 

Shareholders’ equity

$

 

(b)	What is the value of the shareholders’ equity if assets equal $7,200? (Do not include the dollar sign ($).)

 

Shareholders’ equity

$