Exercise 1-14A (Algo) Missing information for determining net income LO 1-7\ The December 31, Year 4, balance sheet for Deen Company showed total stockholders' equity of

$61,500

. Total stockholders' equity increased by

$15,560

between December 31, Year 4, and December 31, Year 5. During Year 5, Deen Company acquired

$10,000

cash from the issue of common stock. The Company paid a

$10,000

cash dividend to the stockholders during Year 5.\ Required\ Determine the amount of net income or loss Deen reported on its Year 5 income statement. (Hint: Remember that stock issues, net income, and dividends all change total stockholders' equity.)

Exercise 1-14A (Algo) Missing information for determining net income LO 1-7 The December 31, Year 4, balance sheet for Deen Company showed total stockholders' equity of $61,500. Total stockholders' equity increased by $15,560 between December 31, Year 4, and December 31, Year 5. During Year 5, Deen Company acquired $10,000 cash from the issue of common stock. The Company paid a $10,000 cash dividend to the stockholders during Year 5 . Required Determine the amount of net income or loss Deen reported on its Year 5 income statement. (Hint: Remember that stock issues, net income, and dividends all change total stockholders' equity.)