E1-8 Inferring Values Using the Income Statement and Balance Sheet Equations [LO1-2] Review the chapter explanations of the income statement and the balance sheet equations. Apply these equations in each of the following independent cases 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. TIP: First identify the numerical relationships among the columns using the balance sheet and income statement equations. Then compute the missing amounts. (Losses should be indicated by a minus sign.) Independent Cases Net Income (Loss) Shareholders' Equity A B Total Total Revenues Expenses $ 142,000 $ 113,600 88,000 82,500 94,000 84,000 115,000 15,400 Total Total Assets Liabilities $ 208,000 $ 119,000 198,000 118,000 32,000 27,200 116,500 65,500 D 15,200 (6,400) 82,500 66,500 E