Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $ 71,000 122,500 Liabilities $ 30,438 49,613 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $500 cash per month. c. No dividends were paid during the year, but the owner did Invest an additional $45,000 cash in exchange for common stock. d. Dividends were $500 cash per month, and the owner Invested an additional $35,000 cash in exchange for common stock. Determine net income or net loss for the business during the year for each of the above separate cases (Decreases in equity should be Indicated with a minus sign.) Answer is complete but not entirely correct. a. b. $ 40,562 S 40,562 $ 0 Beginning of the year-Equity Owner investments Dividend Net income (loss) End of the year-Equity C. d. 40,562 $ 40,562 45,000 25,000 0 (6,000) 12,675 X 13,325 72,887 S 72,887 0 33,275 (6,000) 38,325 72,887 $ 72,887 S S