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Exercise 1-10 Blue Spruce Corp. had the following assets and liabilities on the dates indicated. December 31 2019 2020 2021 Total Assets $478,000 $558,000
Exercise 1-10 Blue Spruce Corp. had the following assets and liabilities on the dates indicated. December 31 2019 2020 2021 Total Assets $478,000 $558,000 $688,000 Total Liabilities $189,000 $239,000 $339,000 Blue Spruce began business on January 1, 2019, 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) 2019, assuming Blue Spruce paid $20,000 in dividends for the year. Net income (loss) for 2019 (b) 2020, assuming stockholders made an additional investment of $41,000 and Blue Spruce paid no dividends in 2020. Net income (loss) for 2020 (c) 2021, assuming stockholders made an additional investment of $16,000 and Blue Spruce paid dividends of $30,000 in 2021. Net income (loss) for 2021 $
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