San Mateo Healthcare had an equity balance of $1.50 million at the beginning of the year. At the end of the year, its equity balance was $2.10 million.

a. Assume that San Mateo is a not-for-profit organization. What was its net income for the period?

b. Now, assume that San Mateo is an investor-owned business.

Assuming zero dividends, what was San Mateo