Three different companies–A, B, and C–have the same balance sheet at the beginning and the end of a year. These are
Given the data above and the additional information for each company below, determine the net income (loss) for each company.
Total Assets Total Liabilities
Beginning of the year $ 500,000 $250,000
End of the year $1,200,000 $350,000
Company A No additional investment was 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.