Review the chapter explanations of the income statement andthe balance sheet equations. Apply these equations in each independent case to compute the two missing amounts for each case. Assume that it is the end of 2006, the first full year of operations for the company. (Hint: Organize the listeditems as they are presented in the balance sheet and income statement equations and then compute the missing amounts.)
|
Independent
Cases
|
Total
Revenues
|
Total
Expenses
|
Net Income
(Loss)
|
Total
Assets
|
'rota!
Liabilities
|
Stockholders'
Equity
|
|
A
|
$100.000
|
$75,000
|
$
|
$150,000
|
$70,000
|
$
|
|
B
|
|
80,000
|
12,000
|
112.000
|
|
60,000
|
|
C
|
80.000
|
85.000
|
|
104.000
|
26.000
|
|
|
D)
|
50.000
|
|
13,000
|
|
22,000
|
77,000
|
|
E
|
81,000
|
6.000
|
|
|
73,000
|
28,000
|