The total assets and liabilities at the beginning and end of the year for Flag Company are listed below. E-10

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Beginning of the year End of the year Assets Liabilities $140,000 $'55,000 220,000 130,000 Determine Flag Company's net income or loss for the year under each of the following alternatives: 1. The stockholders made no investments in the business, and no dividends were paid during the year. 2. The stockholders made no investments in the business, but dividends of $22,000 were paid during the year. 3. The stockholders invested $13,000 in the business, but no dividends were paid dur- ing the year. 4. The stockholders invested $10,000 in the business, and dividends of $22,000 were paid during the year.