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 net income (loss) for each of the following separate situations. (For all requirements, losses should be entered with a minus sign.) a. Additional common stock of $7,000 was issued, and dividends of $11,000 were paid during the current year. b. Additional common stock of $16,000 was issued, and no dividends were paid during the current year. c. No additional common stock was issued, and dividends of $16,000 were paid during the current year