Exercise 1-14A Missing information for determining net income LO 1-7 1 nts Book The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $156,000. Total stockholders' equity increased by $65,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $20,000 cash from the issue of common stock. Deen Company paid a $5,000 cash dividend to the stockholders during Year 2 Required Determine the amount of net income or loss Deen reported on its Year 2 income statement. (Hint Remember that stock issues, net income, and dividends all change total stockholders' equity.) Print References Net income obile LIE 6:03 PM Connect ezto.mheducation.com Chapter 1 Homework Saved Help Save & Exit Submit 8 Check my work Problem 1-33A Interrelationships among financial statements LO 1-2, 1-3, 1-5, 1-6, 1-7 [The following information applies to the questions displayed below.) Part 1 of 2 11.11 points Pratt Corp. started the Year 2 accounting period with total assets of $30,000 cash, $12,000 of liabilities, and $5,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $7,550. The bookkeeper reported that Pratt paid cash expenses of $26,000 and paid a $2,000 cash dividend to stockholders, but she could not find a record of the amount of cash revenue that Pratt received for performing services. Pratt also paid $3,000 cash to reduce the liability owed to a bank, and the business acquired $4,000 of additional cash from the issue of common stock. Assume all transactions are cash transactions. eBook Print References Problem 1-33A Part a Required a. Prepare the Year 2 income statement. PRATT CORP. Income Statement For the Year Ended December 31, Year 2 Revenues Expenses Net income $ 0