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E1-8 Inferring Values Using the Income Statement and Balance Sheet Equations (LO 1-2) Review the chapter explanations of the income statement and the balance sheet
E1-8 Inferring Values Using the Income Statement and Balance Sheet Equations (LO 1-2) 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 case. 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.) Independent Cases Net Income (Loss) Stockholders' Equity B 80,000 Total Total Revenues Expenses $ 130,000 $ 92,000 90.000 90,000 101,000 60,000 91,000 17,000 Total Total Assets Liabilities $ 170,000 $ 80,000 132,000 124,000 36,000 32,000 83,000 c D 25,000 (6,000) 87,000 38,000 E
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