(1) If the assets of a business are $340,000 and the liabilities are $180,000, how much is the equity? (2) If the equity in a business is $120,000 and the liabilities are $160,000, how much are the assets? (3) A company reported monthly revenues of $330,000 and monthly expenses of $80,000. What is the result of operations for the month? (4) If the beginning balance of retained earnings is $150,000, revenue is $95,000, expenses total $50,000, and the company declares and pays a $30,000 dividend, what is the ending balance of retained eamings? (1) If the assets of a business are $340,000 and the liabilities are $180,000, how much is the equity? In order to calculate the equity, we must use the accounting equation. Begin by determining the accounting equation, then solve for the equity. Equity (2) If the equity in a business is $120,000 and the liabilities are $160,000, how much are the assets? The accounting equation can be rearranged to determine the amount of assets. If the equity is $120,000 and liabilities are $160,000, calculate the amount of assets. Assets (3) A company reported monthly revenues of $330,000 and expenses of $80,000. What is the result of operations for the month? In order to calculate the operations for the month we must compute net income or net loss. Begin by determining the equation to compute net income or loss, then enter the amounts to solve for the operations for the month. Net income (loss)