Fxercise N1. * Stock market symbols are shown in parentheses. 1. Identify the accounting equation amounts for PepsiCo Corporation. 2. Will the accounting equation hold true for every corporation? Why? 3. How is this company financed? Primarily with (liabilities / equity). How can you tell? 4. Use PepsiCo's balance sheet to answer the following questions: a. What amount of cash does this company expect to receive from customers within the next few months? b. How much does this company currently owe suppliers? c. Since the company started business, - what is the total amount shareholders have paid for their shares of stock? - Since the company started business, how much net income was earned and not yet distributed as dividends? Exercise N2 : High wave ltd. realized during the year: - Sale of tires for 100,000, paid by check - Sale of Services for 250,000, paid by check - Payments by check: - salaries for 45,000 - purchases of raw material for 65,000 - taxes for 20,000 - financial expenses for 5,000 Prepare an income statement for High Wave ltd. Has this company made any profits