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Can someone help figure out the 2c net income please? I stuck here for a whole day. Thanks. -- Required information [The following information applies
Can someone help figure out the 2c "net income" please? I stuck here for a whole day. Thanks.
-- Required information [The following information applies to the questions displayed below.) The following financial statement information is from five separate companies. Company Company Company Company D Company E A B $36,000 29,520 $ 98,280 $28,080 19,656 $23,040 $64,080 12,441 44,215 2 December 31, 2018 Assets Liabilities December 31, 2019 Assets Liabilities During year 2019 Stock issuances Net income (loss) Cash dividends 41,000 ? 29,520 20,073 ? 13,460 74,620 35,817 113,160 89,396 6,000 9, 470 3,500 1,400 ? 2,000 9,750 6,000 5,875 2 ? 11,938 0 6,500 8,608 11,000 2a. What is the amount of equity on December 31, 2018 for Company B. Assets = Liabilities $ 19,656 + Equity $ 8,424 $ 28,080 2b. What is the amount of equity on December 31, 2019 for Company B. Assets Liabilities $ 29,520 = $ 20,073 + Equity 9,447 $ $ 2c. What is net income for year 2019 for Company B. 8,424 Statement of Shareholder's Equity Equity, December 31, 2018 $ Add: Net income Add: Stock issuances 1,400 9,824 Less: Cash dividends Equity, December 31, 2019 9,447Step by Step Solution
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