Four different companies, E, F, G, and H, show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of owners’ equity, are summarized as follows:

On the basis of the above data and the following additional information for the year, deter mine the net income (or loss) of each company for the year.
Company E: No additional capital stock was issued, and no dividends were paid.
Company F:No additional capital stock was issued, but dividends of \($48,000\) were paid.

Company G:Capital stock of \($120,000\) was issued, but no dividends were paid.
Company H:Capital stock of \($120,000\) was issued, and dividends of \($48,000\) were paid.

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Total Total Assets Liabilities Beginning of the year End of the year $600,000 $240,000 960,000 520,000