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Shep Company's records show the following information for the current year: Beginning or year End of year Total assets $ 58,000 $ 90,000 Total liabilities
Shep Company's records show the following information for the current year: Beginning or year End of year Total assets $ 58,000 $ 90,000 Total liabilities $ 26,000 $ 39,000 Determine net income foss) for each of the following separate situations. (For all requirements, losses should be entered with a minus sign) a. Additional common stock of $7000 was issued, and dividends of $11,000 were paid during the current year, b. Additional common stock of $16,000 was issued, and no dividends were paid during the current year c. No additional common stock was issued, and dividends of $16,000 were paid during the current year a Net income (oss) b. Net income oss Net income loss)
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