K-Os Corporation reported the following selected information for the two years ended December 31:

__________________2018___________2017

Total assets...........$630,000............$550,000

Total liabilities.........420,000..............400,000

Instructions

(a) Calculate total shareholders' equity at December 31, 2017 and 2018.

(b) Calculate the change in total shareholders' equity for the year ended December 31, 2018.

(c) K-Os's shareholders' equity consists only of common shares and retained earnings. Using the change in total shareholders' equity calculated in part E1.6 (b) above, calculate the net income or loss for the year ended December 31, 2018, assuming each of the following independent scenarios:

1. K-Os issued no common shares during the year and did not declare any dividends.

2. K-Os issued no common shares during the year and and declared and paid dividends of $10,000.

3. K-Os issued $30,000 of additional common shares during the year and did not declare any dividends.

4. K-Os issued $20,000 of additional common shares during the year and declared and paid dividends of $10,000.