Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions.

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Assets

Liabilities

Beginning of Year:

$26,000

$17,000

End of Year:

$63,000

$27,000

1) What is the equity at the beginning of the year?

Beginning Equity

2) What is the equity at the end of the year?

Ending Equity

3) If the company issues common stock of $6,900 and pay dividends of $38,000, how much is net income (loss)?

Net Income (Loss)

4) If net income is $3,200 and dividends are $7,800, how much is common stock?

Common Stock

5) If the company issues common stock of $19,500 and net income is $16,300, how much is dividends?

Dividends

6) If the company issues common stock of $43,000 and pay dividends of $1,400, how much is net income (loss)?

Net Income (Loss)