Question: how do u do this problem? Exercise 2-24 (Algo) Computing net income LO P1 A company had the following assets and liabilities at the beginning
Exercise 2-24 (Algo) Computing net income LO P1 A company had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $ 71,500 117,500 Liabilities $30, 652 47,588 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1150 cash per month c. No dividends were pald during the year, but the owner did invest an additional $45,000 cash in exchange for common stock d. Dividends were $1,150 cash per month, and the owner invested an additional $35,000 cash in exchange for common stock. Determine net income or net loss for the business during the year for each of the above separate cases. (Decreases in equity should be indicated with a minus sign.) b c. d 0 $ 0 $ Beginning of the year-Equity Owner investments Dividend Net income (loss) End of the year-Equity $ 0 $ 0 $ 0
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