Problem:
Dimeback, Inc., is obligated to pay its creditors $5,800 during the year. (Leave no cells blank - be certain to enter "0" wherever required.)
Required:
Question 1: What is the market value of the shareholders' equity if assets have a market value of $7,100?
Question 2: What is the market value of the shareholders' equity if assets equal $5,200?
Note: Please explain comprehensively and give step by step solution.