Computing missing information using accounting knowledge The following financial statement information is from five separate companies.

Required 

1. Answer the following questions about Company V.

a. What is the amount of equity on December 31, 2006?

b. What is the amount of equity on December 31, 2007?

c. What is the net income or loss.for the year 2007?
2. Answer the following questions about Company W.

a. What is the amount of equity on December 31, 2006?

b. What is the amount of equity on December 31, 2007?

c. What is the amount of liabilities on December 31, 2007?
3. Calculate the amount of owner investments for Company X during 2007.
4. Calculate the amount of assets for Company Y on December 31, 2007.
5. Calculate the amount of liabilities for Company Z on December 31, 2006.

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Company Company Company Company Company Z December 31, 2006 Assets $54,000 $ 80,000 $141,500 $92,500 $144,000 Liabilities 25,000 60,000 68,500 51,500 7 December 31, 2007 Assets 59,000 100,000 186,500 ? 170,000 Liabilities.. 36,000 ? 65,800 42,000 42,000 During year 2007 Owner investments 5,000 20,000 ? 48,100 60,000 Net income ? 40,000 18,500 24.000 32,000 Owner cash withdrawals 5,500 2,000 0 20.000 8,000