Use the accounting equation to answer each question that follows.
1. Ambria Company's assets are $240,000, and its liabilities are $90,000. What is the amount of its stockholders' equity?
2. Dao Company's liabilities equal one-fifth of the total assets. The stockholders' equity is $40,000. What is the amount of the liabilities?
Text Book: Financial and Managerial Accounting By Belverd Needles, Marian Powers, Susan V. Crosson.