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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 Total Revenues $ 136,000 Net Income (Loss) Stockholders' Equity Total Expenses $ 95,000 93,000 105,500 Total Total Assets Liabilities $ 176,000 $ 83,000 138,000 130,000 39,000 B 18,500 83,000 93,000 D 63,000 35,000 90,000 26,500 (7,500) E 94,000 86,000 41,000
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