Balance sheet 1: 1. If Total Assets are $3,600 and Total Equity is $2,800 then what is the value of Total Liabilities? 2. Fill in the missing information from the balance sheet. Gulf Shipping Company Balance Sheet As of December 31, 2015 (amounts in thousands) Liabilities Cash 3,400 Other Assets 3,000 Equity Total Assets Total Liabilities & Equity What is the value for Liabilities? Please specify your answer in the same units as the balance sheet. 3. Use the starting balance sheet and the list of changes to create an updated balance sheet and to answer the question. Siam Traders Balance Sheet As of December 31, 2015 (amounts in thousands) 2,500 Cash 3,800 Liabilities Other Assets 2,500 Equity 2,100 4,200 Total Assets 6,300 Total Liabilities & Equity 6,300/ate Wing Go to Settings to Between January 1 and March 31, 2016: 1. Cash decreases by $200,000 2. Other Assets increase by $300,000 3. Equity increases by $100,000 What is the value for Liabilities on March 31, 2016? Please specify your answer in the same units as the balance sheet. 4. Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity. 1. Purchase equipment for $43,000 in cash 2. Issue $90,000 in stock What is the net change in Total Equity? 5. Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity. 1. Receive payment of $12,000 owed by a customer 2. Purchase equipment for $45,000 in cash 3. Issue $85,000 in stock 4. Borrow $67,000 from a bank What is the net change in Total Liabilities & Equity? 6. Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity. 1. Receive payment of $12,000 owed by a customer 2. Buy $15,000 worth of manufacturing supplies on credit 3. Purchase equipment for $44,000 in cash 4. Issue $80,000 in stock 5. Pay $4,000 owed to a supplier 6. Borrow $58,000 from a bank 7. Buy $15,000 worth of manufacturing supplies on credit What is the net change in Total Liabilities & Equity?