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Calculation of net income from change in stockholder equity: Assets, January 1_$240,000 Assets,December 31_$230,000 Liabilities,January 1_$150,000 Common stock, December 31_$80,00 Retained earnings, December 31_$31,000 Common

Calculation of net income from change in stockholder equity:

Assets, January 1_$240,000

Assets,December 31_$230,000

Liabilities,January 1_$150,000

Common stock, December 31_$80,00

Retained earnings, December 31_$31,000

Common stock sold during the year _$10,000

Dividends declared during the year _$13,000

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