is complete but not entirely correct. Item Obligation to transfer cash or other resources as a result of a past transaction Dividends paid by a corporation to its shareholders 1. 2. 3 Inflow of an asset from providing a good or service A The financial position of a company. 5 6 Increase in equity during a period from nonowner transactions Increase in equity from peripheral or incidental transaction. 8 9. 10. 11. 12. Sale of an asset used in the operations of a business for less than the asset's book value. The owners' residual interest in the assets of a company An item owned by the company representing probable future benefits. Revenues plus gains less expenses and losses An owner's contribution of cash to a corporation in exchange for ownership shares of stock Outflow of an asset related to the production of revenue Asset Element Comprehensive income Assets, liabilities and equity Comprehensive income Distribution to owners Equity Distribution to owners Comprehensive income Net income Expense Distribution to owners Revenue 000000000000