Compute the amount of Coaches and Carriages' net income (or loss) for 2016 assuming that no dividends were paid and the owners made no additional contributions during the year.

1. 2016 -$1,000

2017 $35,000

2.-$1,000

3. $45,000

Explanation:

1. Computation for  the changes in Coaches and Carriages owners’ equity during 2016 and 2017

First step is to calculate owner equity for 2015, 2016 and 2017

Using this formula

Stockholders equity=Assets-Liabilities

Let plug in the formula

2015 Stockholders equity=$25,000-$12,000

2015 Stockholders equity=$13,000

2016 Stockholders equity=$79,000-$76,000

2016 Stockholders equity=$12,000

2017 Stockholders equity=$184,000-$137,000

2017 Stockholders equity=$47,000

Now let Compute for  the changes in Coaches and Carriages owners’ equity during 2016 and 2017

Change in stockholders’ equity during 2016

Using this formula

Changes in stockholders’ equity during 2016 =2016 Stockholders equity-2015 Stockholders equity

Let plug in the formula

Changes in stockholders’ equity during 2016 =$12,000-$13,000

Changes in stockholders’ equity during 2016 =-$1,000

Change in stockholders’ equity during 2017

Using this formula

Changes in stockholders’ equity during 2017=2017 Stockholders equity-2016 Stockholders equity

Let plug in the formula

Changes in stockholders’ equity during 2017 =$47,000-$12,000

Changes in stockholders’ equity during 2017=$35,000

Therefore the changes in Coaches and Carriages owners’ equity during 2016 is -$1,000 and 2017 $35,000

2. Computation for  the amount of Coaches and Carriages’ net income (or loss) for 2016 assuming that no dividends were paid and the owners made no additional contributions during the year.

Using this formula

2016 Coaches and Carriages’ net income (or loss) = Carriages owners’ equity during 2016-Dividend

Let plug in the formula

2016 Coaches and Carriages’ net income (or loss) = -$1,000-$0

2016 Coaches and Carriages’ net loss= -$1,000

Therefore the amount of Coaches and Carriages’ net income (or loss) for 2016 assuming that no dividends were paid and the owners made no additional contributions during the year will be -$1,000

3. Computation for the amount of Coaches and Carriages’ net income (or loss) for 2017 assuming that dividends paid during the year amounted to $10,000 and no additional contributions were made by the owner

Using this formula

2017 Coaches and Carriages’ net income =Ending Stockholders equity- Beginning Stockholders equity +Dividend

Let plug in the formula

2017 Coaches and Carriages’ net income = $47,000-$12,000+$10,000

2017 Coaches and Carriages’ net income=45,000

Therefore the amount of Coaches and Carriages’ net income (or loss) for 2017 assuming that dividends paid during the year amounted to $10,000 and no additional contributions were made by the owner will be $45,000

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