QS 1-8 (Static) Applying the accounting equation LO A1 1. Use the accounting equation to compute the missing financial statement amounts. 2. Use the expanded accounting equation to compute the missing financial statement amounts. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Use the expanded accounting equation to compute the missing financial statement amounts. Company 1 Assets Liabilities Common Stock Dividends Revenues Expenses $ 40,000 S 16.000 S 20,000 S 0+ $ 8,000 2 3 80,000 = S 32,000 + $ 44,000- + $ 24,000 $ 18,000