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Lily Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2010 $399,690 $245,810 2011 $455,890 $304,810 2012
Lily Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2010 $399,690 $245,810 2011 $455,890 $304,810 2012 $588,040 $397,450 Lily began business on January 1, 2010, with an investment of $102,010 from stockholders. From an analysis of the change in stockholders' equity during the year, compute the net income (or loss) (a) 2010, assuming Lily paid $14,012 in dividends for the year. $ (b) 2011, assuming stockholders made an additional investment of $50,254 and Lily paid no dividends in 2011. $ (c) 2012, assuming stockholders made an additional investment of $12,672 and Lily paid dividends of $32,530 in 2012. $
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