Save Score: 0 of 1 pt 1 of 10 (1 complete) HW Score: 10%, 1 of 10 pts P3-6 (similar to) Effect of net income on a firm's balance sheet Conrad Air, Inc., reported net income of $1,363,000 for the year ended December 31, 2020. Show how Conrad's balance sheet would change from 2019 to 2020 depending on how Conrad spent" those earnings as described in the scenarios that appear below a Conrad paid no dividends during the year and invested the funds in marketable securities b. Conrad paid dividends totaling $500,000 and used the balance of the net income to retire (pay off) long-term debt c. Conrad paid dividends totaling $500,000 and invested the balance of the net income in building a new hangar d. Conrad paid out all $1,363,000 as dividends to its stockholders a. If Conrad paid no dividends during the year and invested the funds in marketable securities, the amount transferred to the balance sheet will be s Round to the nearest dollar) Enter your answer in the shower box and then click Check Answer 10 pan x i Data Table (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) 0 Conrad Air, Inc. Balance Sheet as of December 31, 2019 Assets Cash Marketable securities Accounts receivable Inventories Current assets Equipment Buildings Fixed assets $120,000 38,000 45,000 134,000 $337,000 $2.968,000 1,603,000 $4,571,000 $4,908,000 Total assets Print Dane i Data Table Equipment Buildings Fixed assets Total assets $2,968,000 1,603,000 $4,571,000 $4,908,000 Liabilities and Stockholders' Equity Accounts payable Short-term notes Current liabilities Long-term debt Total liabilities Common stock Retained earnings Stockholders' equity Total liabilities and equity $71,000 56,000 $127,000 $2,699,000 $2,826,000 $504,000 1,578,000 $2,082,000 $4.908,000 Print Done