Four different companiesChang, Henry, Nagel, and Wilcoxshow the same balance sheet data at the beginning and end

Four different companies—Chang, Henry, Nagel, and Wilcox—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:

On the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year.
Company Chang: No additional capital stock was issued, and no dividends were paid.
Company Henry: No additional capital stock was issued, but dividends of $90,000 were paid.
Company Nagel: Capital stock of $125,000 was issued, but no dividends were paid.
Company Wilcox: Capital stock of $125,000 was issued, and dividends of $90,000 werepaid.

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Total Assets Total Liabilities Beginning of the year End of the year $775,000 900,000 $400,000 300,000