A corporation had the following assets and liabilities at the beginning and end of a recent year:

Assets Liabilities Beginning of the year . . . . . . . . $ 60,000 $20,000 End of the year . . . . . . . . . . . . 105,000 36,000.

Determine the net income earned or net loss incurred by the business during the year for each of the following separate cases:

a. Owner made no investments in the business and no dividends were paid during the year.

b. Owner made no investments in the business but dividends were $1,250 cash per month.

c. No dividends were paid during the year but the owner invested an additional $55,000 cash in exchange for common stock.

d. Dividends were $1,250 cash per month and the owner invested an additional $35,000 cash in exchange for common stock.