Selected financial information for three proprietorships follows:

Required
1. Compute the missing amount in the accounting equation for each entity.
2. Which accounting concept or principle tells us that the three companies will cease to exist if the owners die?

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Owner's Equity Assets Liabilities $120,000 Economy Cuts Marpole Dry Cleaners Dauphin Gift and Cards $40,000 50,000 100,000 145,000 115,000