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Required information [The following infortion plies to the questions displayed below.) The following financial statemenwormat

the following financial statement information is from five separate companies

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Answer #1
Company E
December 31, 2016
Assets = Liabilities + Equity
$                          1,19,000 = Liabilities + $ 27,500
Liabilities = $     91,500
Workings:
Equity
Ending balance = $     43,000
Add: Withdrawals = $     11,000
Less: Additional Investment = $     -6,500
Less: Net Income = $   -20,000
Beginning balance = $     27,500
December 31, 2017
Assets = Liabilities + Equity
$                          1,13,000 = $     70,000 + Equity
Equity = $     43,000
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