Brief Exercise 1-4Use the accounting equation to answer each of the following questions.(a) The liabilities of Olga Company are $87,060.



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Brief Exercise 1-4Use the accounting equation to answer each of the following questions.(a) The liabilities of Olga Company are $87,060. Common stock account is $145,800; dividends are $91,610; revenues, $443,250; and expenses, $316,360. What is the amount of Olga Company’s total assets?Olga Company’s total assets$ _______________________________________(b) The total assets of Lafayette Company are $66,030. Common stock account is $22,480; dividends are $8,980; revenues, $43,960; and expenses, $39,080. What is the amount of the company’s total liabilities?Company’s total liabilities$ __________________________________________(c) The total assets of Dierdorf Co. are $780,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Dierdorf Co.’s stockholders’ equity?Dierdorf Co.’s stockholders’ equity?$ ___________________________________



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