Homework Answers
Change in Assets = Change in Liabilities + Change in Stock + Change in Retained Earnings
Change in Assets = $50000 - 75000 -10000 = ($35000)
Change in Liabilities = $20000 - 5000 = $15000
Change on Stock = $10000 + 90000 = $100000
Change in Retained Earnings = $35000 - $115000 = ($150000)
Net Income / (Loss) = ($150000) + $30000 = ($120000) i.e. Net Loss
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