(1) If the assets of a business are $480,000 and the liabilities are $160,000, how much is the equity? (2) If the equity in a business is $160,000 and the liabilities are $100,000, how much are the assets? (3) A company reported monthly revenues of $365,000 and monthly expenses of $225,000. What is the result of operations for the month? (4) If the beginning balance of retained earnings is $180,000, revenue is $85,000, expenses total $35,000, and the company declares and pays a $20,000 dividend, what is the ending balance of retained earnings? (1) If the assets of a business are $480,000 and the liabilities are $160,000, 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