The following financial statement information is from separate companies

Answer the following questions about company A

What is the amount of equity on Dec 31,2010

What is the amount of liabilities on Dec 31,2011

What is the amount of equity on Dec 31,2011

Problems The following financial statement information is from five separate companies: Company Company Company Company Company A B C D E December 31, 2010 Assets . . . . . . . $45,000 $35,000 $29,000 $80,000 $123,000 Liabilities 23.500 22,500 14,000 38,000 ? December 31.201 1 Assets . .... .. . 48.000 41,000 ? 125,000 1 12,500 Liabilities . . ... 27,500 19.000 64,000 75,000 During year 201 1 Owner investments . . 5,000 1,500 7,750 4,500 Net income (loss) . .. . .. . . . .. ... 7.500 9.000 12,000 18,000 Owner cash withdrawals . ... . .. . 2,500 3.000 3,875 0 9,000 Required 1. Answer the following questions about Company A: a. What is the amount of equity on December 31, 2010? b. What is the amount of equity on December 31, 2011? c. What is the amount of liabilities on December 31, 2011? 2. Answer the following questions about Company B: a. What is the amount of equity on December 31, 2010