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

Hawke began business on January 1, 2019, with an investment of $100,000.

Instructions
From an analysis of the change in owner€™s equity during the year, compute the net income (or loss) for:
a. 2019, assuming Hawke€™s drawings were $12,000 for the year.
b. 2020, assuming Hawke made an additional investment of $34,000 and had no drawings in 2020.
c. 2021, assuming Hawke made an additional investment of $12,000 and had drawings of $25,000 in 2021.

Transcribed Image Text:

Total Liabilities December 31 Total Assets $250,000 $300,000 $400,000 $400,000 $460,000 $590,000 2019 2020 2021