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Review the chapter explanations of the income statement and the balance sheet equations. Apply these...

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Accounting

Review the chapter explanations of the income statement and the balance sheet equations. Apply these equations in each of the following independent cases to compute the two missing amounts for each case. Assume that it is the end of the first full year of operations for the company. (Loss amounts should be indicated with a minus sign.)
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Review the chapter explanations of the income statement and the balance sheet equations. Apply these equations in each of the following independent cases to compute the two missing amounts for each case. Assume that it is the end of the first full year of operations for the company. (Loss amounts should be indicated with a minus sign.) TIP: First identify the numerical relations among the columns using the balance sheet and income statement equations, Then compute the missing amounts. Independent Cases Total Revenues S 110,000 Net Income (Loss) Total Expenses $ 82.000 80,000 86.000 Stockholders Equity Total Assets $ 150,000 112,000 104,000 Total Liabilities $ 70,000 00 B 12.000 70.000 80,000 D 50,000 26.000 22,000 mo E 20,000 (6.000) 77,000 28.000 81,000 73.000

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