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Exercise 1-10 Sunland Company had the following assets and liabilities on the dates indicated. December 31 2019 2020 2021 Total Assets $500,000 $580,000 $710,000 Total
Exercise 1-10 Sunland Company had the following assets and liabilities on the dates indicated. December 31 2019 2020 2021 Total Assets $500,000 $580,000 $710,000 Total Liabilities $233,000 $283,000 $383,000 Sunland began business on January 1, 2019, with an investment of $100,000 from stockholders. From an analysis of the change in stockholders' equity during the year, compute the net income (or loss) for: (a) 2019, assuming Sunland paid $21,000 in dividends for the year. Net income (loss) for 2019 $ (b) 2020, assuming stockholders made an additional investment of $43,000 and Sunland paid no dividends in 2020. Net income (loss) for 2020 $ (c) 2021, assuming stockholders made an additional investment of $17,000 and Sunland paid dividends of $24,000 in 2021. Net income (loss) for 2021
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