Question: 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

Inferring Values Using the Income Statement and Equations
Review the chapter explanations of the income statement and the equations. Apply these equations in each independent case to compute the two missing amounts for each case. Assume that it is the end of 2012, the first full year of operations for thecompany.

Independent Total Total Net Income Total Assets Total Liabilities Stockholders' Equity Cases A Revenues Expenses $196,700 175,780 (Loss) $231,820 $75,000 $294,300 29,920 348,400 590,000 258,200 72,990 91,890 190,760 189,675 173,850 9,840 97,525 36,590 224,130 210,630 361,240

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