Four different companies------Chang, Henry, Nagel, and Wilcox------show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of stockholders' equity, are summarized as follows:

Beginning of the year: total assets $775,000, total liabilities $400,000, End of the year: total assets $900,000, total liabilities $300,000

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. (Hint: First determine the amount of increase or decrease in stockholders' equity during 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 $90,000 were paid.

Company Nagel: Capital stock of $125,000 was issued, but no dividends were paid.

Company Wilcox: Capital stock of $125,000 was issued, and dividends of $90,000 were paid.