1. When a company pays $10,000 in Accounts Payable in case, what affect does it have on the accounting equation? a. What increases? Assets? Liabilities? Equity? b. What decreases? Assets? Liabilities? Equity? 2. If a company has $40,000 cash, $2,000 in Accounts Receivable, $15,000 in Equipment, $4,000 in Liabilities, what is the company's equity? 3. If Retained earnings had an increase of $4,000, Dividends of $1,500 and an ending balance of 5,600, what is the beginning retained earnings 4. Prepare Retained Earnings Statements with the following information. Retained earnings, Dec. 31, 2017 = $ 30,150 Cash dividends = $ 6,000 Net income = $18,850 Retained earnings, Dec. 31, 2016 = $43,000