6 10 points Exercise 1-16 (Algo) Computing net income using accounting equation LO P2 Shep Company's records show the following information for the current year: Beginning of year $ 56,000 $ 25,000 Total assets Total liabilities Determine net income (loss) for each of the following separate situations. Note: For all requirements, losses should be entered with a minus sign. End of year $ 87,500 $ 38,000 a. Additional common stock of $6,000 was issued, and dividends of $10,000 were paid during the current year. b. Additional common stock of $15,750 was issued, and no dividends were paid during the current year. c. No additional common stock was issued, and dividends of $15,000 were paid during the current year. Answer is complete but not entirely correct. a. Net income (loss) b. Net income (loss) c. Net income (loss) $ $ $ 0x 0X 0x Return to question

Exercise 1-16 (Algo) Computing net income using accounting equation LO P2 Shep Company?s records show the following information for the current year: Determine riet income (loss) for each of the following separate situations: Note: For all requirements, losses should be entered with a minus sign. a. Additional common stock of $6,000 was issued, and dividends of $10,000 were paid during the current year. b. Additional common stock of $15,750 was issued, and no dividends were paid during the current year, c. No additional common stock was issued, and dividends of $15,000 were paid during the curtent year