Eagle Corp. operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At the end of the current

Question:

Eagle Corp. operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At the end of the current period, the company reports the following amounts: Assets = $ 50,000; Liabilities = $ 27,000; Dividends = $ 3,000; Revenues = $ 14,000; Expenses = $ 9,000.

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