Chapter 1, Problem 1.9E

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	$93,500	$76,940	$	$140,200	$66,500	$
B		75,834	14,740	107,880		77,500
C	68,120	76,430		98.200	69,850
D	55,804		21,770		20,300	78,680
E	84,840	75,320			25,520	80,000