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Four different companiesChang, Henry, Nagel, and Wilcoxshow the same balance sheet data at the beginning and end of a year. This data, exclusive of the
Four different companiesChang, Henry, Nagel, and Wilcoxshow the same balance sheet data at the beginning and end of a year. This data, exclusive of the amount of stockholders' equity, are summarized as follows:
Total Assets | Total Liabilities | |||
Beginning of the year | $105,600 | $42,200 | ||
End of the year | 169,000 | 71,000 |
On the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year.
Company Chang: | No additional capital stock was issued, and no dividends were paid. |
Company Henry: | No additional capital stock was issued, but dividends of $8,700 were paid. |
Company Nagel: | Capital stock of $33,900 was issued, but no dividends were paid. |
Company Wilcox: | Capital stock of $40,900 was issued, and dividends of $6,600 were paid. |
Select "Net Income" or "Net Loss" from the dropdown menus below. Enter all amounts as positive numbers.
Company Chang | Net IncomeNet LossNet Income | $fill in the blank 2 |
Company Henry | Net IncomeNet LossNet Income | $fill in the blank 4 |
Company Nagel | Net IncomeNet LossNet Income | $fill in the blank 6 |
Company Wilcox | Net IncomeNet LossNet Income | $fill in the blank 8 |
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