Reference no: EM132975504

Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions.

Assets Liabilities

Beginning of Year: $28,000 $15,000
End of Year: $62,000 $26,000

Problem 1) What is the equity at the beginning of the year?

Problem 2) What is the equity at the end of the year?

Problem 3) If the company issues common stock of $9,600 and pay dividends of $36,400, how much is net income (loss)?

Problem 4) If net income is $2,300 and dividends are $6,200, how much is common stock?