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Exercise 1-10 Your answer is partially correct. Try again. Wildhorse Company had the following assets and liabilities on the dates indicated. December 31 Total Assets
Exercise 1-10 Your answer is partially correct. Try again. Wildhorse Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2019 $493,000 $269,000 2020 $553,000 $319,000 2021 $683,000 $419,000 Wildhorse began business on January 1, 2019, with an investment of $90,000. From an analysis of the change in owner's equity during the year, compute the net income (or loss) for: (a) 2019, assuming Wildhorse's drawings were $16,000 for the year. Net income 150000 for 2019 (b) 2020, assuming Wildhorse made an additional investment of $40,000 and had no drawings in 2020. Net loss for 2020 30000 (c) 2021, assuming Wildhorse made an additional investment of $15,000 and had drawings of $15,000 in 2021. Net income for 2021 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT
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