F5 ! Required information Problem 1-2A (Static) Computing missing information using accounting knowledge LO A1 [The following information applies to the questions displayed below.] The following financial statement information is from five separate companies. Company A Company B Company C Company D Company E Beginning of year Assets $ 55,000 $ 34,000 Liabilities 24,500 21,500 $ 24,000 9,000 $ 60,000 $ 119,000 40,000 ? End of year Assets 58,000 40,000 ? 85,000 113,000 Liabilities ? 26,500 29,000 24,000 70,000 Changes during the year Owner investments 6,000 1,400 9,750 ? 6,500 Net income (loss) 8,500 ? 8,000 14,000 20,000 Owner withdrawals 3,500 2,000 5,875 11,000 Problem 1-2A (Static) Part 3 3. Compute the amount of assets for Company C at the end of the year. Answer is not complete. Beginning of Year Assets Liabilities Equity $ 24,500 +$ (24,500) Answer is complete but not entirely correct. Statement of Owner's Equity Equity, beginning of year S 12,500 Add: Investments by owner 1,400 Add: Net income 1,600 15,500 Less: Withdrawals by owner 2,000 Equity, end of year S 13,500 x