QS 1-8 Applying the accounting equation LO A1 1. Use the accounting equation to compute the missing financial statement amounts. Company Liabilities + Assets 1 $ 75,000 = + $ 2 BE $ 25,000+ $ Equity 40,000 70,000 3 $ 85,000 = $ 20,000+ 2. Use the expanded accounting equation to compute the missing financial statement amounts. Company Revenues Assets Liabilities + Common Stock Dividends Expenses 1 $ 40,000 = $ 16,000 + $ 20,000 $ 0+ $ 8,000 2 $ 80,000 = $ 32,000 + $ 44,000 + $ 24,000 $ 18,000