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Question - The following financial statement information is from five separate companies:

Company A Company B Company C Company D Company E

December 31 , 201 0

Assets . . . . . . . . . . . . . . . . . . . . . . . . . $45,000 $35,000 $29,000 $80,000 $1 23,000

Liabilities . . . . . . . . . . . . . . . . . . . . . . 23,500 22,500 1 4,000 38,000 ?

December 31 , 201 1

Assets . . . . . . . . . . . . . . . . . . . . . . . . . 48,000 41 ,000 ? 1 25,000 1 1 2,500

Liabilities . . . . . . . . . . . . . . . . . . . . . . ? 27,500 1 9,000 64,000 75,000

During year 201 1

Stock issuances . . . . . . . . . . . . . . . . . 5,000 1 ,500 7,750 ? 4,500

Net income (loss) . . . . . . . . . . . . . . . 7,500 ? 9,000 1 2,000 1 8,000

Cash dividends . . . . . . . . . . . . . . . . . 2,500 3,000 3,875 0 9,000

1. Answer the following questions about Company A:

a. What is the amount of equity on December 31, 2010?

b. What is the amount of equity on December 31, 2011?

c. What is the amount of liabilities on December 31, 2011?

2. Answer the following questions about Company B:

a. What is the amount of equity on December 31, 2010?

b. What is the amount of equity on December 31, 2011?

c. What is net income for year 2011?

3. Calculate the amount of assets for Company C on December 31, 2011.

4. Calculate the amount of stock issuances for Company D during year 2011.

5. Calculate the amount of liabilities for Company E on December 31, 2010.

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