The following financial statement information is from five separate companies.

Required
1. Answer the following questions about Company V.
a. What is the amount of equity on December 31, 2016?
b. What is the amount of equity on December 31, 2017?
c. What is the net income or loss for the year 2017?
2. Answer the following questions about Company W.
a. What is the amount of equity on December 31, 2016?
b. What is the amount of equity on December 31, 2017?
c. What is the amount of liabilities on December 31, 2017?
3. Compute the amount of owner investments for Company X during 2017.
4. Compute the amount of assets for Company Y on December 31, 2017.
5. Compute the amount of liabilities for Company Z on December 31, 2016.

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Company CompanyCompany Company Company December 31, 2016 $54,000 25,000 80,000 $141,500 60,000 $144,000 $92,500 51,500 Assets 68,500 December 31,2017 59,000 36,000 100,000 186,500 65,800 170,000 42,000 Assets 42,000 During year 2017 Owner Investments Net Income (or loss) Owner cash withdrawals 20,000 40,000 2,000 5,000 48,100 24,000 20,000 60,000 32,000 8,000 18,500 5,500