Presented below are data for Wildhorse Co.

	2020		2021
Assets, January 1		$6835		?
Liabilities, January 1		?		$4109
Stockholders' Equity, Jan. 1		?		$4117
Dividends		845		974
Common Stock		917		969
Stockholders' Equity, Dec. 31		?		3402
Net Income		1016		?

Net income for 2021 is

$715 loss.

$207 income.

$715 income.

$259 loss.

Solutions

Expert Solution

Net income = Stockholders equity , Dec 31 - Common stock issued - Stockholders equity, Jan 1 + Dividends

=$3,402-$52-$4,117+$974

=$207 income

Answer is option B - $207 income

*Common stock issued = Common stock 2021 - common stock 2020

=$969-$917 =$52

ekkarill92 answered 2 years ago

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