The following financial statement information is from five separate companies.

Required1. Answer the following questions about Company V.a. What is the amount of equity on December 31, 2018?b. What is the amount of equity on December 31, 2019?c. What is the net income or loss for the year 2019?

2. Answer the following questions about Company W.a. What is the amount of equity on December 31, 2018?b. What is the amount of equity on December 31, 2019?c. What is the amount of liabilities on December 31, 2019?3. Compute the amount of stock issuances for Company X during 2019.4. Compute the amount of assets for Company Y on December 31, 2019.5. Compute the amount of liabilities for Company Z on December 31, 2018.

Transcribed Image Text:

Company Company Company Company Company х December 31, 2018 $ 80,000 $54,000 $141,500 $92,500 $144,000 Assets.... Liabilities... 25,000 60,000 68,500 51,500 December 31, 2019 59,000 100,000 170,000 Assets.... 186,500 Liabilities...... During year 2019 Stock issuances Net income (or loss) Cash dividends 36,000 65,800 42,000 42,000 5,000 20,000 48,100 60,000 40,000 18,500 24,000 32,000 5,500 2,000 8,000 20,000