BE1-2 Given the accounting equation, answer each of the following questions.The liabilities of McGlone Company are $120,000 and the stockholders’ equity is $232,000.

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BE1-2 Given the accounting equation, answer each of the following questions.

(a) The liabilities of McGlone Company are $120,000 and the stockholders’ equity is $232,000.
What is the amount of McGlone Company’s total assets?

(b) The total assets of Company are $190,000 and its stockholders’ equity is $80,000.What is the
amount of its total liabilities?

(c) The total assets of McGlone Co. are $800,000 and its liabilities are equal to one half of its
total assets.What is the amount of McGlone Co.’s stockholders’ equity?