Question: EXERCISES (PART 1) Problem 1. Presented below are data for Caracas Corp. 2018 2019 2020 Assets, January 1 P3,800 P 4,560 Liabilities, January 1 2,280

EXERCISES (PART 1) Problem 1. Presented below are data for Caracas Corp. 2018 2019 2020 Assets, January 1 P3,800 P 4,560 Liabilities, January 1 2,280 ? P2,736 Stockholders' Equity, Jan. 1 2,850 Dividends 760 570 646 Common Stock 684 608 650 Stockholders Equity, Dec. 31 2,166 Net Income 760 684 ? Net income for 2020 is a. P684 income. b. P684 loss. C. P38 income. d. P38 loss

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