Question: Presented below are data for Higgins Industries. 2019 $ 4,560 ? Assets, January 1 Liabilities, January 1 Stockholders' Equity, Jan 1 Dividends Common Stock Stockholders'

 Presented below are data for Higgins Industries. 2019 $ 4,560 ?

Presented below are data for Higgins Industries. 2019 $ 4,560 ? Assets, January 1 Liabilities, January 1 Stockholders' Equity, Jan 1 Dividends Common Stock Stockholders' Equity, Dec 31 Net Income ? 570 608 ? 684 2020 ? $ 2,736 2,750 646 650 2,266 ? Common stock values in the above table represent the change in Common stock during the years. What was Higgins' net income/loss in 2020? A $162 income. B $162 loss. $488 income. $488 loss

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!