Question
Incubus Corporation began with an investment by shareholders of $39,000. a. In its first year, its income showed a deficit of $6,900. What would the
Incubus Corporation began with an investment by shareholders of $39,000. a. In its first year, its income showed a deficit of $6,900. What would the equity section of its balance sheet show at year end? (Negative answers should be indicated by a minus sign. Omit $ sign in your response.) Common stock $ Retained earnings Total Stockholders' Equity $ b. In the second year, it had income of $16,100 and a dividend of $5,900 was paid. What would the equity section of its balance sheet show at year end? Common stock $ Retained earnings Total Stockholders' Equity $ c. In the third year, Incubus sold more shares for a value of $19,500, earned income of $11,900, and paid a dividend of $5,900. What would the equity section of its balance sheet show at year end? Common stock $ Retained earnings Total Stockholders' Equity $
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