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8 4-Balance sheet A=L+OE Acc payable-16000 Land- 214000 Capital stock-216000 Retained earnings- 180000 Cash- Equipment- 120000 Acct Receivable-40,000 Notes payable-190000 1. Find cash? 2.

8 4-Balance sheet A=L+OE Acc payable-16000 Land- 214000 Capital stock-216000 Retained earnings- 180000 Cash- Equipment- 120000 Acct Receivable-40,000 Notes payable-190000 1. Find cash? 2. How much total assets? 3. If the cash is 86,000 how much is the revised capital stock? 4. Income statement Revenue- 10,000 Expenses- 70,000 How much is the net income?

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