The records of Felix Company show the following at December 31, 2024:

Requirements

1. Compute the missing amount for Felix Company. You will need to determine Retained Earnings, December 31, 2024, and total stockholders’ equity, December 31, 2024.
2. Did Felix earn a net income or suffer a net loss for the year? Compute the amount.

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Assets & Liabilities: Beginning: Assets Liabilities Ending: Assets Liabilities $ 67,000 11,000 $ 46,000 34,000 Equity: Common Stock Dividends Revenues Expenses Retained Earnings, January 1, 2024 $ 11,000 8,000 205,000 ? 45,000