Blossom Company had the following assets and liabilities on the dates indicated.
December 31
...
Blossom Company had the following assets and liabilities on the dates indicated.
December 31
Total Assets
Total Liabilities
2021 $480,000 $241,000
2022 $560,000 $291,000
2023 $690,000 $391,000
Blossom began business on January 1, 2021, with an investment of $100,000 from stockholders.
From an analysis of the change in stockholders’ equity during the year, compute the net income (or loss) for:
(a) 2021, assuming Blossom paid $25,000 in dividends for the year.
Net income (loss) for 2021 $Enter the net income or loss for 2021 in dollars
Answers: 1
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