Effect of net income on a firm's balance sheet Conrad Air, Inc., reported net income of $1,360,000 for the year ended December 31, 2016. Show how Conrad's balance sheet would change from 2015 to 2016 depending on how Conrad spent those earnings as described in the scenarios that appear below a. Conrad paid no dividends during the year and invested the funds in marketable securities. b. Conrad paid dividends totaling 5504,000 and used the balance of the net income to retire (pay off) long-term debt c. Conrad paid dividends totaling $504,000 and invested the balance of the net income in building a new hangar d. Conrad paid out all $1.360,000 as dividends to its stockholders Data table Assets Cash Marketable securities Accounts receivable Inventories Current assets Equipment Buildings Fixed assets Total assets $115,000 31,000 41,000 132,000 $319,000 $2,975,000 1,604,000 $4,579,000 $4,898,000 Org Liabilities and Stockholders' Equity Accounts payable Short-term notes Current liabilities Long-term debt Total liabilities Common stock $70,000 60,000 $130,000 $2,692,000 $2.822.000 $503.000 st old Fixed assets Total assets $4,579.000 $4,898,000 the nearest dollar) hen Liabilities and Stockholders' Equity Accounts payable Short-term notes Current liabilities Long-term debt Total liabilities Common stock Retained earnings Stockholders' equity Total liabilities and equity $70,000 60,000 $130,000 $2,692,000 $2,822,000 $503,000 1,573,000 $2,076,000 $4 898,000 eare ll be s (Round to the e ba arest neare Print Done Capa dende og the warnehmend is the new she and the The ending met Round The ending and nang theo Conad paid tunde tutan 100 ant uned the times of the camera det endered to the balance the 1] un teren de The ending on the The anting retard gew) C. Coral penting 32.00 and indoor and income wangu and hence hard to The ending bule Monds to The ending and Round te mer d. Comead paid = 5:30 000 en kommer har anschholder te wetentuned to the tree how become the reput sau The ending retained earnings will be s (Round to the nearest dollar)