The Boucher Company was started by a group of investors on Jan. 1, 20X1 when the...

  

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The Boucher Company was started by a group of investors on Jan. 1, 20X1 when the balance sheet was made up of total assets of $10,000 and total liabilities of $8,000. Partial financial datal for the first year of operations is as follows: Total assets (12/31) Total liabilities (12/31) Additional investments by owners Cash dividends declared and paid 20X1 $18,000 9,000 4,000 3,000 What was the net income (loss) for the year 20X1? O $2,000 O $3,000 $4,000 $5,000 O $6,000 What was the retained earnings balance (deficit) on 12/31/20X1? Ⓒ($3,000) Ⓒ($2.000) ($1,000) $2,000 $3,000 The Boucher Company was started by a group of investors on Jan. 1, 20X1 when the balance sheet was made up of total assets of $10,000 and total liabilities of $8,000. Partial financial datal for the first year of operations is as follows: Total assets (12/31) Total liabilities (12/31) Additional investments by owners Cash dividends declared and paid 20X1 $18,000 9,000 4,000 3,000 What was the net income (loss) for the year 20X1? O $2,000 O $3,000 $4,000 $5,000 O $6,000 What was the retained earnings balance (deficit) on 12/31/20X1? Ⓒ($3,000) Ⓒ($2.000) ($1,000) $2,000 $3,000

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13 When the company was founded at the beginning of 2021 its total assets were 10000 and its total l... View the full answer