identify appropriate financial statement element

For each of the items listed below, identify the appropriate financial statement element. Element 1. Liability Distribution to owners 2. 3 Revenue 4. 5 Item Obligation to transfer cash or other resources as a result of a past transaction. Dividends paid by a corporation to its shareholders. Inflow of an asset from providing a good or service. The financial position of a company. Increase in equity during a period from nonowner transactions. Increase in equity from peripheral or incidental transaction. Sale of an asset used in the operations of a business for less than the asset's book value. The owners residual interest in the assets of a company An item owned by the company representing probable future benefits. Revenues plus gains less expenses and losses. An owner's contribution of cash to a corporation in exchange for ownership shares of stock. Outflow of an asset related to the production of revenue. Assets, liabilities and equity Comprehensive income Gain 6 7. Loss 8 Equity Asset 9 10. Net income 11. 33 Investment by owner Expense 12