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Jaws Dental (JD) had an Equity balance at the beginning of the year of $500,000 and an Equity balance of $750,000 at the end of

Jaws Dental (JD) had an Equity balance at the beginning of the year of $500,000 and an Equity balance of $750,000 at the end of the year.

a. Assume JD is a not-for profit. What was JDs Net Income (Loss) for the year?

b. Now assume that JD is a for-profit, and had the same equity balances given above. If they paid $300,000 in dividends, what was JDs Net Income (Loss) for the year?

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