Michael has $68. Craig has $24 less than Michael has. Michael spends $20 on a new hat. Part A: Write an equation where the solution represents the amount of money (x), in dollars, Craig has after Michael buys the hat. Explain how you came to this equation. Part B: Now, Craig buys some socks. He has $16 left. Write an equation where the solution represents the amount of money (y), in dollars Craig spent on socks. Show how you know this is the correct equation.