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Magee Corporation provided the following summary balance sheet information: Dec. 31, 20X1 Dec. 31, 20X2 Total assets Total liabilities $1,500,000 700,000 $2,300,000 1,400,000 Compute net
Magee Corporation provided the following summary balance sheet information: Dec. 31, 20X1 Dec. 31, 20X2 Total assets Total liabilities $1,500,000 700,000 $2,300,000 1,400,000 Compute net income for the year ending December 31, 20X2, under each of the following independent scenarios: (a) Magee paid no dividends, and no additional capital was raised via share issuances. (b) Magee paid $100,000 in dividends, and no additional capital was raised via share issuances. (c) Magee paid no dividends, but raised $250,000 via issuances of additional shares of stock. (d) Magee paid $100,000 in dividends, and raised $250,000 via issuances of additional shares of stock
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