Q$3$

A company had the following assets and liabilities at the beginning and end of this year.

a$.$ Owner made no investments in the business, and no dividends were paid during the year.

b$.$ Owner made no investments in the business, and dividends paid were $$9,000$ during the year.

c$.$ No dividends were paid during the year, but the owner did invest an additional $$45,000$ cash in exchange for common stock.

d$.$ Dividends paid were $$9,000$ during the year, and the owner did invest an additional $$35,000$ cash near year$-$end in exchange for

common stock.

Determine net income or net loss for the business during the year for each of the above separate cases:

Note: Decreases in equity should be indicated with a minus sign.