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Eignment CALCULATOR Exercise 1-10 Blossom Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2019 $480,000 $174,000

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Eignment CALCULATOR Exercise 1-10 Blossom Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2019 $480,000 $174,000 2020 $540,000 $224,000 2021 $670,000 $324,000 Blossom began business on January 1, 2019, with an investment of $99,000. From an analysis of the change in owner's equity during the year, compute the net income (or loss) for: (a) 2019, assuming Blossom's drawings were $16,000 for the year. for 2019 (b) 2020, assuming Blossom made an additional investment of $46,000 and had no drawings in 2020. for 2020 (C) 2021, assuming Blossom made an additional investment of $24,000 and had drawings of $29,000 in 2021 for 2021

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