7 Review the chapter explanations of the income statement and the balance sheet equations. Apply these equations in each of the following independent cases to compute the two missing amounts for each cose. Assume that it is the end of the first full year of operations for the company (Loss amounts should be indicated with a minus sign) TIP. First identify the numerical relations among the columns using the balance sheet and Income statement equations. Then compute the missing amounts Answer is not complete. Independent Total Net Total Total Total Stockholders Cases Revenues Expenses Income Los Assets Liabilities Equity $ 138.000 $ 96.000 $ 42,000 $178,000 3 84,000 B (75,000) 94.000 10,000 140,000 84,000 94,000 107.000 (13,000) 132.000 40,000 54,000 (37,000) 27.000 36,000 91,000 (87.000) 95.000 (8,000) 87.000 42.000 D E