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What amount of net income or net loss would the company

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Problem 1: On January 1, 2020, Coronado Company reported owner's equity of $704200. During the year, the owner withdrew cash of $29000. At December 31, 2020, the balance in owner's equity was $825300. What amount of net income or net loss would the company report for 2020?

Option 1: Net income of $150100
Option 2: Net income of $121100
Option 3: Net loss of $92100
Option 4: Net income of $213200

Reference no: EM132830710

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