Chapter 1, Problem 1.10E

Inferring Values Using the Income Statement and Balance Sheet Equations

Review the chapter explanations of the income statement and the 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 the first full year of operations for the company. (Hint: Organize the listed items 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	Total Liabilities	Stockholders’ Equity
A	$242,300	$196,700	$	$253,500	$ 75,000	$
B		176,500	29,920	590,000		350,600
C	73,500	91,890		260,400	190,760
D	35,840		9,840		190,430	97,525
E	224,130	209,500			173,850	360,100