Question
The stockholders’ equity at the beginning of the period was $200,000; at the end of the period, assets were $255,000 and liabilities were $40,000.
If the owner made no additional investments or paid no dividends during the period, did the business incur a net income or a net loss for the period and how much?
If the owner made no additional investments or paid no dividends during the period, did the business incur a net income or a net loss for the period and how much?