Problem 1-2A Computing missing information using accounting knowledge @11@21 The following financial statement information is from five separate companies. Company Company Company Company Company B D E $55.000 24,500 $34,000 21.500 $119.000 $24.000 9.000 $60.000 40.000 58,000 2 December 31. Year 1 Assets Liabilities December 31. Year 2 Assets Liabilities During year Year 2 Owner investments Net profit (loss) Owner cash withdrawals 40.000 26,500 85,000 24.000 113.000 70,000 29,000 6,000 8.500 1.400 2 2.000 9.750 8,000 5.875 14.000 0 6,500 20.000 11,000 3.500 Required 1. Answer the following questions about Company A a. What is the amount of equity on December 31, Year 1? 1. What is the amount of equity on December 31. Year 2? c. What is the amount of liabilities on December 31, Year 2? Check (16) $41,500 2. Answer the following questions about Company B. a. What is the amount of equity on December 31. Year 1? b. What is the amount of equity on December 31, Year 2? c. What is net profit for Year 2? (24 $1,600 3. Compute the amount of assets for Company Con December 31, Year 2. (3) $55,875 4. Compute the amount of owner investments for Company D during year Year 2. 5. Compute the amount of liabilities for Company E on December 31. Year I. Page 34