Q. No 1 (A) The total assets and liabilities of Tesla Company at January 1 and December 31, 2016, are presented below. Assets Liabilities January 1 $103,000 72,000 December 31 $167,000 88,000 Determine the amount of net income or loss for 2016, applying each of the following assumptions concerning the additional issuance of stock and dividends paid by the firm. Each case is independent of the others. 1. Dividends of $12,100 were paid and no additional stock was issued during the year. (3) 2. Additional stock of $18,000 was issued and no dividends were paid during the year. (3) 3. Additional stock of $72,000 was issued and dividends of $12,400 were paid during the year. (3)