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The Constantine Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2020 $480,000 $250,000 2021 $460,000 $220,000
The Constantine Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2020 $480,000 $250,000 2021 $460,000 $220,000 2022 $590,000 $300,000 Constantine began business on January 1, 2020, with an investment of $100,000. From an analysis of the change in stockholders' equity during the year, compute the net income for loss) for: (Enter negative amounts using either a negative sign preceding the number eg-45 or parentheses eg (45)) (a) 2020, assuming Constantine's dividends were $45,000 for the year. (b) 2021, assuming Constantine made an additional investment of $50,000 and paid no dividends in 2021. (c) 2022, assuming Constantine made an additional investment of $15,000 and paid dividends of $40,000 in 2022. (a) Net income/loss for 2020 $ 175.000 (b) Net income/loss for 2021 $ 24.000 Ich Net income/loss for 2022 $ 43,000
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