Question
Shep Company's records show the following information for the current year: Total assets Total liabilities Beginning of year End of year $ 86,500 $
Shep Company's records show the following information for the current year: Total assets Total liabilities Beginning of year End of year $ 86,500 $ 55,200 $ 24,600 $ 37,600 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 $5,600 was issued, and dividends of $9,600 were paid during the current year. b. Additional common stock of $15,650 was issued, and no dividends were paid during the current year. c. No additional common stock was issued, and dividends of $14,600 were paid during the current year. a. Net income (loss) b. Net income (loss) c. Net income (loss)
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