Inferring Values by Using the Income Statement and Statement of Financial Position Equations Review the chapter explanations of the income statement and the statement of financial position equations. Apply these equations in each independent case to compute the two missing amounts for each case. Assume that it is the end of 2010, the first full year of operations for the company. (Hint: Organize the listed items as they are presented in the statement of financial position and income statement equations and then compute the missing amounts.)

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Independent Cases Total Total Revenues Expenses Profit (Loss) Total Total Shareholders' Assets Liabilities Equity A $100,000 $82,000 $150,000 $70,000 B 80,000 $12,000 112,000 $60,000 C 80,000 86,000 104,000 26,000 D 50,000 13,000 22,000 77,000 E 81,000 (6,000) 73,000 28,000