Prepare a balance sheet for Ebony Interiors as of March 31, 20Y3. Feedback rheck My Work a. Recall that the balance sheet is a formal presentation of the accounting equation, such that total assets must equal total liabilities and stockholders' equity. b. Determine the amount of net income for March, assuming that no additional common stock was issued and no dividends were paid during the month. c. Determine the amount of net income for March, assuming that no additional common stock was issued, but dividends of $50,000 were paid during the month. $ Feedback Check My Work b. Net income is the difference between the stockholders' equity amounts at the end of February and the end of March. c. The increase in stockholders' equity between February and March plus the dividends will be equal to the net income. Prepare a balance sheet for Ebony Interiors as of March 31, 20Y3. Feedback rheck My Work a. Recall that the balance sheet is a formal presentation of the accounting equation, such that total assets must equal total liabilities and stockholders' equity. b. Determine the amount of net income for March, assuming that no additional common stock was issued and no dividends were paid during the month. c. Determine the amount of net income for March, assuming that no additional common stock was issued, but dividends of $50,000 were paid during the month. $ Feedback Check My Work b. Net income is the difference between the stockholders' equity amounts at the end of February and the end of March. c. The increase in stockholders' equity between February and March plus the dividends will be equal to the net income