1) Using check marks, identify the accounts appear. eck marks, identify the financial statement(s) on which each of the following items/ Item Income Statement Shareholders' Equity Asset Balance Sheet Liability Shareholder Equity Sales Revenue Unearned Revenue Notes Payable Retained Earnings Accounts Receivable Income Tax Expense Pre-paid Rent Land Cash Dividends 2) Circle the one correct answer for each of the following two statements: At the end of Celebrity Imports' first year of operations, assets are $750,000 and owners' equity is $680,000 a. The business' liabilities are $70,000. b. The owner must have invested $750,000 to start the business. c. The business' liabilities are $1,430,000. d. The business must be operating profitably. ion, contributed capital decreases by S1 b. A company pays back $1 million on a loan it had received earlier from a bank Assets are unchanged, liabilities and stockholders' equity both increased by Assets are unchanged, liabilities increase by $1 million, contributed capital de million. Assets decrease by $1 million, liabilities are unchanged, contributed cani million. Assets decrease by S1 million, liabilities decrease by S4 million, stockh unchanged. tributed capital decreases by SI million, stockholders' equity is