Required Information Problem 1-2A (Static) Computing missing information using accounting knowledge LO A1 [The following Information applies to the questions displayed below.] The following financial statement Information is from five separate companies. Company A Company B Company C Company D Company E Beginning of year Assets Liabilities $ 55,000 24,500 $ 34,000 21,500 $ 24,000 9,000 $ 60,000 40,000 $ 119,000 ? End of year Assets 58,000 40,000 ? 85,000 Liabilities ? 26,500 29,000 24,000 113,000 70,000 Changes during the year Owner investments 6,000 1,400 9,750 ? 6,500 Net income (loss) 8,500 ? 8,000 14,000 20,000 Owner withdrawals 3,500 2,000 5,875 0 11,000 Problem 1-2A (Static) Part 5 5. Compute the amount of liabilities for Company E at the beginning of the year. End of Year Assets = Liabilities + Equity + $ 0 Statement of Owner's Equity Equity, beginning of year Equity, end of year Beginning of Year Assets = = $ Liabilities + 0+ Equity 0