II. Exercises

1. Calculate the missing amounts for companies A to E

	A	B	C	D	E
Cash	$2,100	$ 800	$ ?	$5,400	$3,000
Equipment	5,600	4,800	4,400	6,300	?
Accounts Payable	2,800	?	1,650	2,700	5,400
Share capital	1,400	2,400	3,300	3,600	600
Retained earnings	?	800	550	?	1,200

2. Calculate the net income earned during the year. Assume that the change to shareholders equity results only from net income earned during the year.

	Assets	Liabilities
Balance Jan. 1, 2015	$112,500	$ 90,000
Balance Dec. 31, 2015	90,000	45,000

3. If total assets increased $25,000 and total liabilities decreased $7,000, what was the change in shareholders equity?