Four different corporations, Aries, Gemini, Leo, and Pisces, show the same balance sheet data at the...
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Four different corporations, Aries, Gemini, Leo, and Pisces, show the same balance sheet data at the beginning and end of a year. This data, exclusive of the amount of stockholders' equity, is summarized as follows: Beginning of the year End of the year Total Assets Total Liabilities $95,400 $152,600 $38,200 $64,100 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. (Hint: First determine the amount of increase or decrease in stockholders' equity during the year.) Enter all amounts as a positive number. Aries: No additional common stock was issued, and no dividends were paid. Net income Gemini: No additional common stock was issued, but dividends of $7,500 were paid. Net income Leo: Common stock of $42,000 was issued, but no dividends were paid. Net loss Pisces: Common stock of $19,500 was issued, and dividends of $8,500 were paid. Net income Four different corporations, Aries, Gemini, Leo, and Pisces, show the same balance sheet data at the beginning and end of a year. This data, exclusive of the amount of stockholders' equity, is summarized as follows: Beginning of the year End of the year Total Assets Total Liabilities $95,400 $152,600 $38,200 $64,100 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. (Hint: First determine the amount of increase or decrease in stockholders' equity during the year.) Enter all amounts as a positive number. Aries: No additional common stock was issued, and no dividends were paid. Net income Gemini: No additional common stock was issued, but dividends of $7,500 were paid. Net income Leo: Common stock of $42,000 was issued, but no dividends were paid. Net loss Pisces: Common stock of $19,500 was issued, and dividends of $8,500 were paid. Net income
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