Question
a. In its first year, its income showed a deficit of $7,100 . What would the equity section of its balance sheet show at year
a. In its first year, its income showed a deficit of
$7,100
. What would the equity section of its balance sheet show at year end? (Negative answers should be indicated by a minus sign. Omit
$
sign in your response.)\ Common stock\ Retained earnings\ $\ 41000\ Total Stockholders' Equity\
$33900
\ b. In the second year, it had an income of
$15,100
and a dividend of
$6,100
was paid. What would the equity section of its balance sheet show at year end?\ Common stock\ Retained earnings\ \\\\table[[33900],[9000]]\ Total Stockholders' Equity\
$42900
\ c. In the third year, Incubus sold more shares for a value of
$20,500
, earned income of
$12,100
, and paid a dividend of
$6,100
. What would the equity section of its balance sheet show at year end?\ Common stock\ Retained earnings\ \\\\table[[42900],[26500]]\ Total Stockholders' Equity\
$69400
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