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 $ 55,200 End of year $ 86,500 $ 24,600 $ 37,600 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. a. Additional common stock of $5,600 was issued, and dividends of $9,600 were paid during the current year. b. Additional common stock of $15,650 was issued, and no dividends were paid during the current year. c. No additional common stock was issued, and dividends of $14,600 were paid during the current year. a. Net income (loss) b. Net income (loss) c. Net income (loss)

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: Note: For all requirements, losses should be entered with o minus sign. a. Additional common stock of $5,600 was issued, and dividends of $9,600 were paid during the current year b. Additional common stock of $15,650 was issued, and no dividends were paid during the current year. c. No additional common stock was issued, and dividends of $14,600 were paid during the current year