CHIL 1 He At the beginning of the current fiscal year, the balance sheet of Cummings Co. showed liabilities of $434,000. During the yea liabilities decreased by $75,000, assets increased by $159,000, and paid-in capital increased by $30,000 to $384.000. Divid declared and paid during the year were $125,000. At the end of the year, stockholders' equity totaled $753,000 Required: Calculate net income or loss for the year. (Amounts to be deducted should be indicated with a minus sign.) Stockholders' Equity PIC RE Assets Beginning Changes Liabilities $ 434,000 + (75,000) + 159,000 30,000+ $384.000 + Ending $753,000 SE Prey 1 of 7 !!! Next > search