I HAVE A HW QUESTION. Three different companies, A, B and C, have the same balance sheet at the beginning and the end of the year. These are summarized below:
Beginning of the year $ 500,000 $250,000
End of the year 1,200,000 350,000
Given the data above and the additional information for each company below, determine the net income (loss) for each company.
Company A: No additional investments were made by stockholders, and no dividends were paid.
Company B: Stockholders invested an additional $200,000, and no dividends were paid.
Company C: Stockholders invested $450,000 and dividends of $50,000 were paid.