James Morley is the sole stockholder and operator of Dynamic Business Solutions, Inc. a management consulting firm organized as a professional corporation. At the end of its accounting period, December 31, 2018, Dynamic Business Solutions has assets of $100,000 and liabilities of $75,000. During the year 2019 assets increased by $25,000 and liabilities increased by $15,000. [2]

i. What is the increase or (decrease) in owner's equity for the year 2019?

ii. What is the net income (or net loss) for the year 2019 assuming that capital stock of $70,000was issued, and dividends of $45,000 were paid in 2019?