E1-8 (Static) Inferring Values Using the Income Statement and Balance Sheet Equations [LO 1-2] 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. (Loss amounts should be indicated with a minus sign.) TIP: First identify the numerical relations among the columns using the balance sheet and income statement equations. Then compute the missing amounts. Independent Cases A Net Income (Loss) Stockholders Equity B Total Total Revenues Expenses $ 110,000 $ 82,000 80,000 80,000 86,000 50,000 81,000 12,000 Total Total Assets Liabilities $ 150,000 $ 70,000 112,000 104.000 26,000 22,000 73.000 70,000 D 20,000 (6,000) 77,000 28,000 E