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Your answer is incorrect. The Oriole Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2019 $506,000

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The Oriole Company had the following assets and liabilities on the dates indicated.

December 31 Total Assets Total Liabilities
2019 $506,000 $256,500
2020 $492,500 $230,400
2021 $616,000 $305,000

Oriole began business on January 1, 2019, with an investment of $113,000. From an analysis of the change in owner's 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) 2019, assuming Oriole's drawings were $58,000 for the year.
(b) 2020, assuming Oriole made an additional investment of $63,000 and had no drawings in 2020.
(c) 2021, assuming Oriole made an additional investment of $17,000 and had drawings of $53,000 in 2021.

(a) Net income / loss for 2019 $enter a dollar amount
(b) Net income / loss for 2020 $enter a dollar amount
(c) Net income / loss for 2021 $enter a dollar amount

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