Assume the following for the year 2000 for the Staubus Company:

Revenues		$1,000,000
Operating expenses
Cost of goods sold	$400,000
Depreciation	$100,000
Salaries and wages	$200,000
Bond interest (8% Debentures sold at maturity value of $1,000,000)		$80,000
Dividends declared on 6% Preferred Stock (par value $500,000)		$30,000
Dividends declared of $5 per share on Common Stock (20,000 shares outstanding, a par value of $100 per share)		$100,000

1. Determine the income under each of the following equity theories:
   • Proprietary theory
   • Entity theory (orthodox view)
   • Entity theory (unorthodox view)
   • Residual equity