The Walt Disney Company had the following assets and liabilities (in millions) as of September 29, 2007.
Assets $60,928
Liabilities 30,175
a. Determine the stockholders' equity of Walt Disney as of September 29, 2007.
b. If assets increased by $1,569 and stockholders' equity increased by $1,570, what was the increase or decrease in liabilities for the year ending September 27, 2008?
c. What were the total assets, liabilities, and stockholders' equity as of September 30, 2008?
d. Based upon your answer to (c), does the accounting equation balance?