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Review the chapter explanations of the income statement and the balance sheet equations. Apply these equations in each of the following independent cases to
Review the chapter explanations of the income statement and the balance sheet equations. Apply these equations in each of the following independent cases to compute the two missing amounts for each case. Assume that it is the end of the first full year of operations for the company. (Loss amounts should be indicated with a minus sign.) Independent Cases Total Revenues Total Expenses Net Income. (Loss) Total Assets Total Liabilities. Stockholders' Equity A $ 150,000 $ 102,000 $ 190,000 $ 90,000 BCDE 100,000 22,000 152.000 90,000 100,000 116,000 144,000 46,000 70,000 30,000 42,000 97,000 101,000 (11,000) 93,000 48.000
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