On the basis of the above data and the following additional information for the year, determine the… 1 answer below »

Four different corporations, A, B, C, and D, show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of stockholders’ equity,  are summarized as follows:

 

Total

Total

 

Assets

Liabilities

Beginning of the year

$525,000

$220,000

End of the year

970,000

425,000

On the basis of the above data and the following additional information for the year, determine the net income (or loss) of each company for the year. (Suggestion: First determine the amount of increase or decrease in stockholders’ equity during the year.)

Company A: No additional capital stock was issued, and no dividends were paid.

Company B: No additional capital stock was issued, but dividends of $50,000 were paid.

Company C: Capital stock of $75,000 was issued, but no dividends were paid.

Company D: Capital stock of $75,000 was issued, and dividends of $50,000 were paid.

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