1. A business had the following assets and liabilities at the beginning and at the end of a year: Assets Beginning of year... $67,000 End of year..... 78,000 Liabilities $14,000 17,000 Determine the net income or net loss during the year under the assumption that dividends total $19,200 and shareholders invested an additional $10,000 in the business by year-end. a. b. C. d. $51,800 net income. $ 1,200 net loss. $17,200 net income. $ 8,000 net income