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

Beginning of yearEnd of yearTotal assets$ 56,400$ 88,000Total liabilities$ 25,200$ 38,200

Determine net income (loss) for each of the following separate situations.

Note: For all requirements, losses should be entered with a minus sign.

1. Additional common stock of $6,200 was issued, and dividends of $10,200 were paid during the current year.
2. Additional common stock of $15,800 was issued, and no dividends were paid during the current year.
3. No additional common stock was issued, and dividends of $15,200 were paid during the current year.