Shep Companys records show the following information for the current year.

	Beginning of year					End of year
Total assets		$	50,000				$	80,000
Total liabilities		$	22,000				$	35,000

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 $3,000 was issued and dividends of $7,000 were paid during the current year. b. Additional common stock of $15,000 was issued and no dividends were paid during the current year. c. No additional common stock was issued and dividends of $12,000 were paid during the current year.