Question

Carson Corporation reported the following amounts for assets and liabilities at the beginning and end of a recent year.
Required:
Calculate Carson’s net income or net loss for the year in each of the following independent situations:
1. Carson declared no dividends, and its common stock remained unchanged.
2. Carson declared no dividends and issued additional common stock for $33,000 cash.
3. Carson declared dividends totaling $11,000, and its common stock remained unchanged.
4. Carson declared dividends totaling $17,000 and issued additional common stock for $29,000.


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  • CreatedSeptember 22, 2015
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