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Wildhorse Co. had the following assets and liabilities on the dates indicated. Wildhorse began business on January 1, 2018, with an investment of $97,000 from
Wildhorse Co. had the following assets and liabilities on the dates indicated. Wildhorse began business on January 1, 2018, with an investment of $97,000 from stockholders. From an analysis of the change in stockholders' equity during the year, compute the net income (or loss) for: (a) 2018, assuming Wildhorse paid $17,000 in dividends for the year, Net income (loss) for 2018 $ (b) 2019, assuming stockholders made an additional investment of $42,000 and Wildhorse paid no dividends in 2019. Net income (loss) for 2019 $ (c) 2020, assuming stockholders made an additional investment of $18,000 and Wildhorse paid dividends of $15,000 in 2020. Net income (loss) for 2020 $
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