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Oriole Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2021 $496,000 $209,000 2022 $556,000 $259,000 2023
Oriole Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2021 $496,000 $209,000 2022 $556,000 $259,000 2023 $686,000 $359,000 Oriole began business on January 1, 2021, with an investment of $98,000. From an analysis of the change in owner's equity during the year, compute the net income (or loss) for: (a) 2021, assuming Oriole's drawings were $15,000 for the year. From an analysis of the change in owner's equity during the year, compute the net income (or loss) for: (a) 2021, assuming Oriole's drawings were $15,000 for the y year. Net income for 2021 $ 272000 (b) 2022, assuming Oriole made an additional investment of $50,000 and had no drawings in 2022. Net loss for 2022 1A $ 247000 (c) 2023, assuming Oriole made an additional investment of $23,000 and had drawings of $27,000 in 2023. Net income for 2023 277000
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