Use the accounting equation to answer each of the following questions: (Round answers to the nearest whole dollar, e.g. 5,275.) (a) The liabilities of Sandhill Company are $122,000 and the owner's equity is $271,000. What is the amount of Sandhill Company's total assets? Total assets $ (b) The total assets of Monty Company are $180,000 and its owner's equity is $98,000. What is the amount of its total liabilities? Total liabilities $ (c) The total assets of Teal Mountain Company are $777,000 and its liabilities are equal to one- half of its total assets. What is the amount of Teal Mountain Company's owner's equity? A tabular summary of the transactions for Pharoah & Co., an accounting firm, for its first month of operations, July 2024, follows: 1 $18,000 2 3 4 6 3,500 5 -2,000 7 8 9 Cash 10 (a1) -4,000 -750 -3,900 -800 1,350 -2,900 Accounts Prepaid + Receivable + Insurance + Equipment $5,300 -1,350 $750 $5,000 8,000 = Accounts Payable + $4,000 -2,000 560 B. Pharoah, Capital $23,000 B. Pharoah, Drawings + Revenues -$3,900 $8,800 E A tabular summary of the transactions for Pharoah & Co., an accounting firm, for its first month of operations, July 2024, follows: B. Accounts Prepaid Accounts Pharoah, Receivable + Insurance + Equipment = Payable + Capital $5,000 $23,000 $5,300 (a1) -1,350 $750 8,000 $4,000 -2,000 560 - B. Pharoah, Drawings -$3,900 + Revenues - $8,800 Expenses -$800 Rent -2,900 Salaries -560 Utilities (a1) Prepare an income statement for July. $ PHAROAH & CO. Income Statement $ $