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The following is the statement of owner's equity for Cloud Computer Service. Cloud Computer Service Statement of Owner's Equity For the Year Ended December 31,
The following is the statement of owner's equity for Cloud Computer Service. Cloud Computer Service Statement of Owner's Equity For the Year Ended December 31, 2016 S. Cloud, capital, January 1, 2016 Investments during the year $3,500 Net income for the year $13,568 $ ? 5,000 Withdrawals Increase (decrease) in owner's equity 5. Cloud, capital, December 31, 2016 $18,905 Calculate the net income to complete the statement. a. $6,837 b. $1,837 C. $6,637 d. The amount cannot be determined from this information
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