Question
Shep Companys records show the following information for the current year. Beginning of year End of year Total assets $ 55,600 $ 87,000 Total liabilities
Shep Companys records show the following information for the current year.
Beginning of year | End of year | ||||||||
Total assets | $ | 55,600 | $ | 87,000 | |||||
Total liabilities | $ | 24,800 | $ | 37,800 | |||||
Determine net income (loss) for each of the following separate situations. (For all requirements, losses should be entered with a minus sign.) a. Additional common stock of $5,800 was issued and dividends of $9,800 were paid during the current year. b. Additional common stock of $15,700 was issued and no dividends were paid during the current year. c. No additional common stock was issued and dividends of $14,800 were paid during the current year
Find the net income loss for A., B. and C.
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