foreseeable future. S1-6 Using the accounting equation Thompson Handyman Services has total assets for the year of $18,400 and total liabilities of $9,050. Requirements 1. Use the accounting equation to solve for equity. 2. If next year assets increased by $4,300 and equity decreased by $3,850, what would be the amount of total liabilities for Thompson Handyman Services? S1-7 Using the accounting equation Roland's Overhead Doors reports the following financial information: Assets Liabilities Roland, Capital Roland, Withdrawals Revenues Expenses $ 45,800 17,220 27,460 6,500 8,850 Requirements 1. Use the accounting equation to solve for the missing information. 2. Did Roland's Overhead Doors report net income or net loss? S1-7 Using the accounting equation Roland's Overhead Doors reports the following financial information: Assets Liabilities Roland, Capital Roland, Withdrawals Revenues Expenses $ 45,800 17,220 27,460 6,500 8,850 Requirements 1. Use the accounting equation to solve for the missing information. 2. Did Roland's Overhead Doors report net income or net loss