11-1 (similar to) (1) If the assets of a business are $240,000 and the liabilities are $120,000, how much is the owners' equity? (2) If the owners' equity in a business is $90,000 and the liabilities are $110,000, how much are the assets? (3) A company reported monthly revenues of $350,000 and expenses of $60,000. What is the result of operations for the (4) If the beginning balance of retained earnings is $170,000, revenue is $1 10,000, expenses total S70.000, and the company declares and pays a $35,000 dividend what is the ending balance of retained earnings? (1) If the assets of a business are $240,000 and the liabilities are $120,000, how much is the owners' equity? In order to calculate owners' equity, we must use the accounting equation. Begin by determining the accounting equation, then solve for owners' equity m Col