Shep Company’s records show the following information for the current year. Beginning of year End of

Shep Company’s records show the following information for the current year. Beginning of year End of year Total assets $ 50,000 $ 80,000 Total liabilities $ 22,000 $ 35,000 Determine net income (loss) for each of the following separate situations. (For all requirements, losses should be entered with a minus sign.) a. Additional common stock of $3,000 was issued and dividends of $7,000 were paid during the current year. b. Additional common stock of $15,000 was issued and no dividends were paid during the current year. c. No additional common stock was issued and dividends

»Shep Company’s records show the following information for the current year. Beginning of year End of year Total assets $ 50,000 $ 80,000 Total liabilities $ 22,000 $ 35,000 Determine net income (loss) for each of the following separate situations. (For all requirements, losses should be entered with a minus sign.) a. Additional common stock of $3,000 was issued and dividends of $7,000 were paid during the current year. b. Additional common stock of $15,000 was issued and no dividends were paid during the current year. c. No additional common stock was issued and dividends of $12,000 were paid during the current year.

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