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. TIP: First identify the numerical relationships among the columns using the balance sheet and income statement equations. Then compute the missing amounts. (Losses should be indicated by a minus sign.)

Independent Cases Total Revenues Net Income (Loss) Total Assets Total Liabilities Shareholders' Equity A $ 111,000 Total Expenses $ 88,800 112,500 127,000 B 21,500 92,500 123,500 51,000 $ 178,000 $ 90,000 203,000 106,500 31,800 26,400 94,500 D 15,700 98,500 76,000 E 114,000 (2,400)