1.5 The Accounting Equation and Financial Statements						15 pts.
Problem and Directions: The New Life Dance Company had the following events during 2019:
1	Earned revenues of $50,000
2	Paid Cash for expenses of $23,000
3	Paid a $4,500 dividend to stockholders
Note: On the Balance Sheet under each major category (Asset, Liability and Stockholders Equity) item, when you click in the yellow box, a drop down menu will appear. Select the correct item to complete the information.
a) Complete the accounting equation for the different transactions.
New Life Dance Company
Accounting Equation
Event		Assets		Liabilities		Stockholders Equity
		Cash	=		+	Common Stock	+	Retained Earnings
1
2
3
Total		$ -	=	$ -	+	$ -	+	$ -