Question: Beginning: Assets. . . . . . . . . . . . . . . . . . $111,000 Liabilities. . . . .

Beginning:

Assets. . . . . . . . . . . . . . . . . .

$111,000

Liabilities. . . . . . . . . . . . . .

30,000

Ending:

Assets. . . . . . . . . . . . . . . . . .

$154,000

Liabilities. . . . . . . . . . . . . .

60,000

Stockholders' Equity:

Sale of Stock. . . . . . . . . . . .

$18,000

Payment of Dividends. . . .

3. What is the net income or net loss for the year?

25,000

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