A corporation had the following assets and liabilities at
the beginning and end of this year.
Beginning of the year $
80,500 $ 34,510
End of the year 129,500
52,448
Owner made no
investments in the business, and no dividends were paid during the year.
Owner made no
investments in the business, but dividends were $1,450 cash per month.
No dividends were
paid during the year, but the owner did invest an additional $45,000 cash in
exchange for common stock.
Dividends were
$1,450 cash per month, and the owner invested an additional $35,000 cash in
exchange for common stock.
Determine the net income earned or net loss incurred by the
business during the year for each of the above separate cases
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