29 The Role of Accounting in Business Chapter 1 Obj. 4 V Best Buy, $4,995 The total assets and total liabilities for a recent year of Best Buy (BBY) and Gamestop (GME) are shown below, E1-3 Accounting equation Gamestop (in millions) Best Buy (in millions) $4,246 $15.256 10.261 Assets 2,179 Liabilities Determine the stockholders' equity of each company. Obj. 4 E1-4 Accounting equation The total assets and total liabilities for a recent year of Apple (AAPL) and HP (HPQ) formerly Hewlett-Packard are shown here. V Apple, $119,355 Apple (in millions) P (in millions) $103,206 Assets $290,479 171,124 76,475 Uabilities Determine the stockholders' equity of each company. E1-5 Accounting equation Obj. 4 Determine the missing amount for each of the following: Va. $475.000 Liabilities + Stockholders' Equity Assets $ 175,000 a. $300,000 $525,000 b. $880.000 C. $2,100,000- S600,000 E1-6 Accounting equation Obj. 4 Determine the missing amounts (in millions) for the condensed balance sheets shown below. va. S10.617 Costco (COST) Target Wal-Mart (WMT) (TGT) Assets Liabilities Stockholders equity $33.440 $41,404 22.823 (a) () 13,997 122,312 81,394 E1-7 Net income and dividends Obj. 4 The income statement of a corporation for the month of November indicates a net income of $90.000. During the same period, $100,000 in cash dividends were paid, Would it be correct to say that the business incurred a net loss of $10,000 during the month? Discuss