At the beginning of 2020, Tucker Corporation had assets of $350,000 and liabilities of $175,000. At the end of 2020, Tucker had assets of $450,000 and liabilities of $70,000. Its shareholders equity consisted of common shares and retained earnings. Required:

1. Compute the change in Tuckers shareholders equity during 2020. Change in Tuckers shareholders equity during 2020: ______________

2. Assume that Tucker issued no additional common shares and declared no dividends, determine Tuckers net income or net loss for 2020. Net income or (loss) for 2020: _________________________

3. Assume that Tucker issued additional common shares for $40,000 cash and declared dividends totaling $22,000, determine Tuckers net income or net loss for 2020. Net income or (loss) for 2020: _________________________