Toth Company had the following assets and liabilities on the dates indicated.

Toth began business on January 1, 2014, with an investment of $100,000 from stockholders.

Instructions
From an analysis of the change in stockholders' equity during the year, compute the net income (or loss) for:
(a) 2014, assuming Toth paid $15,000 in dividends for the year.
(b) 2015, assuming stockholders made an additional investment of $50,000 and Toth paid no dividends in 2015.
(c) 2016, assuming stockholders made an additional investment of $15,000 and Toth paid dividends of $30,000 in2016.

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December 31 2014 2015 2016 Total Assets $400,000 $480,000 $590,000 Total Liabilities $260,000 $300,000 $400,000