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Shep Company shows the following information for the current year.
Beg. of Year End of Year
Total Assets $53,200 $84,000
Total Liability $23,600 $36,600
Problem 1: Determine net income (loss) for each of the following separate situations.
a. Additional common stock of $4,600 was issued and dividends of $8,600 were paid during the current year
b. Additional common stock of $15,400 was issued and no dividends were paid during the current year
c. No additional common stock was issued and dividends of $13,600 were paid during the current year
Financial Statement Analysis and Preparation
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