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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 compute
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 A Net Income (Loss) Stockholders' Equity Total Total Revenues Expenses $ 140,000 $ 97,000 95,000 95,000 108,500 65,000 96,000 Total Total Assets Liabilities $ 180,000 $ 85,000 142,000 B 19,500 85,000 134,000 D 27,500 (8,500) 41,000 37,000 88,000 92,000 43,000 E
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