The following financial statement information is from five separate companies.
Required
1. Answer the following questions about Company V.
a. What is the amount of equity on December 31, 2018?
b. What is the amount of equity on December 31, 2019?
c. What is the net income or loss for the year 2019?
2. Answer the following questions about Company W.
a. What is the amount of equity on December 31, 2018?
b. What is the amount of equity on December 31, 2019?
c. What is the amount of liabilities on December 31, 2019?
3. Compute the amount of owner investments for Company X during 2019.
4. Compute the amount of assets for Company Y on December 31, 2019.
5. Compute the amount of liabilities for Company Z on December 31, 2018.
