Homework Answers
Net income during the year = Dividends paid during the year + retained earnings
Retained earnings = change in stockholders equity - additional investment
Equity = Assets - Liabilities
2019 = (140,000-100,000)+15,000
=$55,000
2020 = (180,000-140,000)+0-50,000
=$(10,000)
I.e. loss
C.2021 = (190,000-180,000)+30,000-15000
=$25,000
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