Homework Answers
Account equation = Assets - Liabilities = Stockholder's equity
Equity equation = Beginning equity+Net income-Withdrawal = ending equity
Beginning equity = 122000-66000 = 56000
Ending equity = 287000-144000 = 143000
a) Net income (loss) = 56000-143000 = 87000
b) Net income (loss) = 56000-3000-143000 = 90000
c) Net income (loss) = 56000+12500-30000-143000 = 104500
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