Net Income and Stockholders Equity for Four Businesses Four

Last updated: 6/22/2023

Net Income and Stockholders Equity for Four Businesses Four different corporations Cancer Libra Sagittarius and Virgo show the same balance sheet data at the beginning and end of a year These data exclusive of the amount of stockholders equity are summarized as follows Total Liabilities Total Assets Beginning of the year End of the year 179 000 75 200 On the basis of the above data and the following additional information for the year determine the net income or loss of each company for the year Hint First determine the amount of increase or decrease in stockholders equity during the year No additional common stock was issued and no dividends were paid No additional common stock was issued but dividends of 7 300 were paid Sagittarius Additional common stock of 16 800 was issued but no dividends were paid Virgo Additional common stock of 15 300 was issued and dividends of 9 500 were paid Enter all amounts as positive numbers Cancer Libra Cancer Libra 111 900 Net Income Net Income Sagittarius Net Income Virgo Net Income 44 800 15 30 x 43 80 x 16 80 x 15 30 x Feedback Check My Work Consider the impact that investments dividends and net income net loss have on the stockholders capital account