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Net Income and Stockholders' Equity for Four Businesses Four different corporations, Aries, Gemini, Leo, and Pisces, show the same balance sheet data at the
Net Income and Stockholders' Equity for Four Businesses Four different corporations, Aries, Gemini, Leo, and Pisces, show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of stockholders' equity, are summarized as follows: Beginning of the year End of the year Total Assets $81,200 $129,900 Total Liabilities $32,500 $54,600 On the basis of the above data and the following additional information for the year, determine the net income (or loss) of each company for the year. (Hint: First determine the amount of increase or decrease in stockholders' equity during the year.) Aries: Gemini: Leo: No additional common stock was issued, and no dividends were paid. No additional common stock was issued, but dividends of $4,800 were paid. Additional common stock of $10,600 was issued, but no dividends were paid. Additional common stock of $12,500 was issued, and dividends of $5,100 were paid. Pisces: Aries dropdown Gemini Net Income Leo Net Loss Pisces
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