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Missing Amounts from Balance Sheet and Income Statement Data One item is omitted in each of the following summaries of balance sheet and income statement data for the following four different corporations: Determine the missing amounts. Hint: First determine the amount of increase or decrease in stockholders' equity during the year. Prepare balance sheets for Ebony Interiors as of March 31, 2018. Feedback a. Recall that the balance sheet is a formal presentation of the accounting equation, such that total assets must equal total liabilities and stockholders' equity. Learning Objective 5 b. Determine the amount of net income for March, assuming that no additional common stock was issued and no dividends were paid during the month. $x c. Determine the amount of net income for March, assuming that no additional common stock was issued, but dividends of $23,500 were paid during the month. Net Income and Stockholders' Equity for Four Businesses Four different corporations, Aries, Gemini, Leo, and Pisces, show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of stockholders' equity, are summarized as follows: On the basis of the above data and the following additional information for the year, determine the net income (or loss) of each company for the year. (Hint: First, determine the amount of increase or decrease in stockholders' equity during the year.) Aries: No additional common stock was issued, and no dividends were paid. Gemini: No additional common stock was issued, but dividends of $6,400 were paid. Leo: Additional common stock of $32,600 was issued, but no dividends were paid. Pisces: Additional common stock of $41,000 was issued, and dividends of $8,100 we Enter all amounts as positive numbers. a. (2) Select the description for transaction 2. a. (3) Select the description for transaction 3. a. (4) Select the description for transaction 4. a. (5) Select the description for transaction 5 . a. (6) Select the description for transaction 6 . a. (7) Select the description for transaction 7. b. What is the amount of the net decrease in cash during the month? Enter decrease as a positive number. \$ x c. What is the amount of the net increase in stockholders' equity during the month? d. What is the amount of the net income for the month? \$ e. How much of the net income for the month was retained in the business? Accounting Equation Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31,20Y2, Inspirational has assets of $849,710 and liabilities of $268,510. Using the accounting equation and considering each case independently, determine the following amounts: a. Stockholders' equity as of October 31,20Y2. $ b. Stockholders' equity as of October 31,20Y3, assuming that assets increased by $134,250 and liabilities increased by $80,720 during 20Y3. $ c. Stockholders' equity as of October 31,20Y3, assuming that assets decreased by $67,130 and liabilities increased by $23,790 during 20Y3. $ d. Stockholders' equity as of October 31,20Y3, assuming that assets increased by $112,160 and liabilities decreased by $42,490 during 20Y3. $ e. Net income (or net loss) during 20Y3, assuming that as of October 31,20Y3, assets were $1,070,630, liabilities were $174,190, and no additional common stock was issued or dividends paid. $