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No additional common stock was issued and no dividends were paid. Amber: No additional common stock was issued, but dividends of Blue: $60,000 were paid. Additional common stock of $140,000 was issued, but no dividends were paid. Coral: Additional common stock of $140,000 was issued and dividends of $60,000 were paid. Daffodil:

No additional common stock was issued and no dividends were paid. Amber: No additional common stock was issued, but dividends of Blue: $60,000 were paid. Additional common stock of $140,000 was issued, but no dividends were paid. Coral: Additional common stock of $140,000 was issued and dividends of $60,000 were paid. Daffodil:

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter14: Statement Of Cash Flows
Section: Chapter Questions
Problem 32BEB: During 20X2, Evans Company had the following transactions: a. Cash dividends of 6,000 were paid. b....
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Net income and stockholders’ equity for four businesses
Four different corporations, Amber, Blue, Coral, and Daffodil, show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of stockholders’ equity, arc summarized as follows:

  Total Asset  Total Liabilities 
Beginning of the year  $ 1,220,000 $ 990,000
End of the year  1,730,000 1,150,000

On the basis of the preceding 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. Amber: No additional common stock was issued, but dividends of Blue: $60,000 were paid. Additional common stock of $140,000 was issued, but no dividends were paid. Coral: Additional common stock of $140,000 was issued and dividends of $60,000 were paid. Daffodil:
Transcribed Image Text:No additional common stock was issued and no dividends were paid. Amber: No additional common stock was issued, but dividends of Blue: $60,000 were paid. Additional common stock of $140,000 was issued, but no dividends were paid. Coral: Additional common stock of $140,000 was issued and dividends of $60,000 were paid. Daffodil:
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