Homework Answers
| Ans. | Option 2nd $85,000 | ||
| *WORKING NOTES : | |||
| *Calculations for beginning and ending stockholder's equity: | |||
| Beginning | Ending | ||
| Assets | $295,000 | $355,000 | |
| Less: Liabilities | -$190,000 | -$220,000 | |
| Stockholder's equity | $105,000 | $135,000 | |
| *Calculations for Net income : | |||
| Ending stockholder's equity | $135,000 | ||
| Add: Dividends paid | $100,000 | ||
| Less: Beginning stockholder's equity | -$105,000 | ||
| Less: Additional common shares issued | -$45,000 | ||
| Net income | $85,000 |
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Please help with correct answer and explaination if possible,
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help please
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