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The Constantine Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2017 $480,000 $250,000 2018 $460,000
The Constantine Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2017 $480,000 $250,000 2018 $460,000 $220,000 2019 $590,000 $300,000 Constantine began business on January 1, 2017, with an investment of $100,000. From an analysis of the change in stockholders' equity during the year, compute the net income (or loss) for: (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) (a) 2017, assuming Constantine's dividends were $45,000 for the year. (b) 2018, assuming Constantine made an additional investment of $50,000 and paid no dividends in 2018. (c) 2019, assuming Constantine made an additional investment of $15,000 and paid dividends of $40,000 in 2019. (a) Net income/loss for 2017 (b) Net income/loss for 2018 (c) Net income/loss for 2019
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