BE1-4 Use the expanded accounting equation to answer each of the following questions. (a) The liabilities of Kafka Company are $90,000. Owner's capital is $150,000; drawings are $40,000; revenues, $450,000; and expenses, $320,000. What is the amount of Kafka Company's total assets? (b) The total assets of Rivera Company are $57,000. Owner's capital is $25,000; drawings are $7,000; revenues, $52,000; and expenses, $35,000. What is the amount of the com- pany's total liabilities? (c) The total assets of Alcorn Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Alcorn Co.'s owner's equity? BE1-5 Indicate whether each of the following items is an asset (A), liability (L), or part of owner's equity (OE). (a) Accounts receivable (b) Salaries and wages payable (c) Equipment (d) Supplies (e) Owner's capital (f) Notes payable BF1-6 Presented below are three business transactions. On a sheet of paper list the letters