The Constantine Company had the following assets and liabilities on the dates indicated.

December 31 Total Assets Total Liabilities 2020 $480,000 $250,000 2021 $460,000 $220,000 2022 $590,000 $300,000 Constantine began business on January 1, 2020, with an investment of $100,000.

Instructions From an analysis of the change in stockholders' equity during the year, compute the net income

(or loss) for:

(a) 2020, assuming Constantine’s dividends were $45,000 for the year.

(b) 2021, assuming Constantine made an additional investment of $50,000 and paid no dividends in 2021.

(c) 2022, assuming Constantine made an additional investment of $15,000 and paid dividends of

$40,000 in 2022.