Net Income and Stockholders' Equity for Four Businesses Four different corporations, Aries, Gemini, Leo, and...
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Net Income and Stockholders' Equity for Four Businesses Four different corporations, Aries, Gemini, Leo, and Pisces, 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: $72,400 Total Assets Beginning of the year End of the year $115,800 Total Liabilities $29,000 $48,600 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. (Hint: First determine the amount of increase or decrease in stockholders' equity during the year.) Aries: Gemini: Leo: Pisces: Aries No additional common stock was issued, and no dividends were paid. No additional common stock was issued, but dividends of $4,300 were paid. Additional common stock of $11,200 was issued, but no dividends were paid. Additional common stock of $12,500 was issued, and dividends of $5,200 were paid. Gemini Leo Pisces Previous Next>
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