Compute amount of coaches and carriages net income

Reference no: EM13159958

The following amounts are available from the records of Coaches and Carriages Inc. at the end of the years indicated:
December 31 Total Assets Total Liabilities
2008 $25,000 $12,000
2009 79,000 67,000
2010 184,000 137,000
1. Compute the changes in Coaches and Carriages' owners' equity during 2009 and 2010.
2009 change in owners' equity $
2010 change in owners' equity $

2. Compute the amount of Coaches and Carriages' net income (or loss) for 2009 assuming that no dividends were paid and the owners made no additional contributions during the year.

Reference no: EM13159958

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