Lily Company had the following assets and liabilities on the dates indicated.

Lily began business on January 1, 2010, with an investment of TL100,000 from shareholders.
InstructionsFrom an analysis of the change in equity during the year, compute the net income (or loss) for:
(a) 2010, assuming Lilys paid TL15,000 in dividends for the year.
(b) 2011, assuming shareholders made an additional investment of TL50,000 and Lily paid no dividends in 2011.
(c) 2012, assuming shareholders made an additional investment of TL15,000 and Lily paid dividends of TL30,000 in 2012.

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Total Assets December 31 2010 2011 2012 TL400.000 TL460,000 TL590.000 Total Liabilities T250.000 TL.300.000 TL400,00)