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Exercise 1-10 Blue Spruce Corp. had the following assets and liabilities on the dates indicated December 31 2018 2019 2020 Total Assets Total Liabilities $478,000

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Exercise 1-10 Blue Spruce Corp. had the following assets and liabilities on the dates indicated December 31 2018 2019 2020 Total Assets Total Liabilities $478,000 $558,000 $688,000 $189,000 $239,000 $339,000 Blue Spruce began business on January 1, 2018, with an investment of $96,000 from stockholders From an analysis of the change in stockholders' equity during the year, compute the net income (or loss) for: (a) 2018, assuming Blue Spruce paid $20,000 in dividends for the year Net income (loss) for 2018 (b) 2019, assuming stockholders made an additional investment of $41,000 and Blue Spruce paid no dividends in 2019 Net income (loss) for 2019 (c) 2020, assuming stockholders made an additional investment of $16,000 and Blue Spruce paid dividends of $30,000 in 2020 Net income (loss) for 2020 Click if you would like to Show Work for this question: Modify Show Work

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