Question: Each of the following independent situations represents amounts shown on the four basic financial statements.
1. Revenues = $25,000; Expenses = $17,000; Net income = ____________.
2. Increase in stockholders' equity = $16,000; Issuance of common stock = $10,000; Net income = $11,000; Dividends = ____________.
3. Assets = $23,000; Stockholders' equity = $17,000; Liabilities = ____________.
4. Total change in cash = $24,000; Net operating cash flows = $32,000; Net investing cash flows = ($15,000); Net financing cash flows = ____________.
Required: Fill in the missing blanks using your knowledge of amounts that appear on the financial statements.