... equity$125$150$25$1, 690 $1 ,99 0$640$750 $90 $6,000$3,100$2,630$13,210$250$150($750($350))$765 $90 0$115$6,250$3,250$3,570$14,850Figure 5-1:Summary ofchanges inassets,liabilities, and owners’equityduring ... assetsAssets$1,515,000$450,000$725,000$75,000($775,000)$125,000 $150,000$25,000$1 ,99 0,000$300,000$1, 690 ,000Payables for products and things bought on creditUnpaid expensesIncome tax payableChange in liabilitiesNet income for yearLiabilitiesFigure ... inassets and liabilitiesfrom sales,expenses, and theiralliedtransactionsduring theyear. 92 Part II: Figuring Out Financial Statements 09_ 2460 09 ch04.qxp 4/16/08 11:56 PM Page 92 The disadvantages...