Required: 1. Use the accounting equation to compute the missing financial statement amounts. Company 1 Assets Liabilities + Equity $75,000 = + $40,000 2 3 $25,000 + $70,000 $85,000 = $20,000 + 2. Use the expanded accounting equation to compute the missing financial statement amounts. = Liabilities Company Assets 1 $40,000 = 2 $80,000 = $16,000 Common + + Stock $20,000 $44,000 Dividends + Revenues $0 + + $24,000 $32,000+ Expenses $8,000 $18,000