At the beginning of 2018, Barth Company reported the following balance sheet.

REQUIRED:

a. At the end of 2018, Barth Company reported the following assets and liabilities: Cash, $8,800; Accounts Receivable, $18,400; Equipment, $9,000; Land, $50,000; and Accounts Payable, $7,500. Prepare a year-end balance sheet for Barth.

b. Assuming that Barth did not issue any common stock during the year but paid $12,000 cash in dividends, what was its net income or net loss for 2018?

c. Assuming that Barth issued an additional $13,500 common stock early in the year but paid $21,000 cash in dividends before the end of the year, what was its net income or net loss for 2018?

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Assets Liabilities Cash... $ 4,800 Accounts payable. $12,000 ... Accounts recervable . 14,700 Equity Common stock.... Retained earnings Equipment ,.. 10,000 50,000 47,500 20,000 Land... Total assets $79,500 Total líabilities and equity $79,500 -... . ... ....