Question

Part 1: Fill in the blanks below. Utilize the relationships on the Income Statement and Balance Sheet in determining your answers. Remember to use the power of Excel to calculate your answers. Independent Total Revenues Total Expenses Companies $ 3.200,300 $ 790,000 B S 351,300 S 8 73,200 DS $ 370,900 $ 274,800 A Stockholder's Equity S 490,000 S 254,100 Net Income Total Assets Total Liabilities $ 255,480 $ 291,000 TS 796,900 S 300,830 S 1,000,200 S 590,000 962.000 $ 289.100

Answer 1

Independent	Total Revenues	Total Expenses	Net Income	Total Assets	Total Liabilities	Stockholder's
Companies						Equity
A	$      3,200,300	$        790,000	$ 2,410,300	$      745,480	$        255,480	$        490,000
B	$         351,300	$        60,300	$      291,000	$        796,900	$      542,800	$        254,100
C	$    1,174,030	$        873,200	$      300,830	$     1,000,200	$        590,000	$      410,200
D	$    370,900.00	$    274,800.00	$ 96,100.00	$   962,000.00	$   289,100.00	$ 672,900.00
	Explanation
1	Net income = Total revenues - Total expenses
2	Total assets = Total Liabilities + Stockholder's equity
3	Total Expenses = Total revenues - Net income
4	Total Liabilities = Total Assets - Stockholder's equity
5	Total Revenues = Total Expenses + Net income
6	Stockholder's equity = Total Assets - Total Liabilities