Solution-Determine the amount of net income or loss

Determine the amount of net income or loss

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Question - The December 31, 2018, balance sheet for Deen Company showed total stockholders' equity of $78,000. Total stockholders' equity increased by $26,500 between December 31, 2018, and December 31, 2019. During 2019 Deen Company acquired $11,000 cash from the issue of common stock. The Company paid a $7,500 cash dividend to the stockholders during 2019. Determine the amount of net income or loss Deen reported on its 2019 income statement.

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Determine the amount of net income or loss

Reference no: EM132951250

Reference no: EM132951250

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