Question: Four different corporations, Aries, Germini, Leo, and Pisces, show the same balance sheet data at the beginning and end of a year. These data, exclusive
Four different corporations, Aries, Germini, Leo, and Pisces, 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 above data and the following additional information for the year, determine the net income (or loss) of each company for the year.Aries: No additional capital stock was issued and no dividends were paid.Gemini: No additional capital stock was issued, but dividends of $40,000 were paid.Leo: Additional capital stock of $90,000 was issued, but no dividends were paid.Pisces: Additional capital stock of $90,000 was issued and dividends of $40,000 were paid.
Total Assets Total Liabilities 5100.000 300,000 Beginning of the year End of the year $400,000
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Aries Stockholders equity at end of year 750000 300000 450000 D... View full answer
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