1. Use the accounting equation to compute the missing financial statement amounts. Liabilities Company 1 Assets $ 75,000 = + Equity $ 40,000 $ 70,000 2 3 alon 25,000 + 20,000 + $ 85,000/= 2. Use the expanded accounting equation to compute the missing financial statement amounts. + Revenues Company 1 Assets $ 40 000 = S 80.000 Dividends $ 0 + Liabilities S 16.000 $ 32.000 Common Stock $ 20,000 44,000 Expenses $ 8,000 $ 18,000 + + + 5 24 000 2