A corporation had the following assets and liabilities at the beginning and end of this year.
| Assets | Liabilities |
Beginning of the year | $ 70,000 | $30,000 |
End of the year | 115,000 | 46,000 |
Determine the net income earned or net loss incurred by the business during the year for each of the following separate cases:
a. Owner made no investments in the business and no dividends were paid during the year.
b. Owner made no investments in the business, but dividends were $1,250 cash per month.
c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange for common stock.
d. Dividends were $1,250 cash per month and the owner invested an additional $25,000 cash in exchange for common stock.
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