$1$ Chapter $1$

a$.$ In its first year, its income showed a deficit of $$7,800.$ What would the equity section of its balance sheet show at year end? $($Negative answers should be indicated by a minus sign. Omit $ sign in your response.$)$

Common stock

Retained earnings

Total Stockholders' Equity

eBook

b$.$ In the second year, it had an income of $$15,800$ and a dividend of $$6,800$ was paid. What would the equity section of its balance

Print

sheet show at year end?

ferences

c$.$ In the third year, Incubus sold more shares for a value of $$24,000,$ earned income of $$12,800,$ and paid a dividend of $$6,800.$ What would the equity section of its balance sheet show at year end?

Common stock

Retained earnings

$ $$

Total Stockholders' Equity

$ $$