Cougars Accounting Services provides low- cost tax advice and preparation to those with financial need. At the

Question:

Cougar’s Accounting Services provides low- cost tax advice and preparation to those with financial need. At the end of the current period, the company reports the following amounts: Assets = $ 19,000; Liabilities = $ 15,000; Revenues = $ 28,000; Expenses = $ 33,000.

Required:
1. Calculate net loss.
2. Calculate stockholders’ equity at the end of the period.