homework help 460059
Lily Company had the following assets and liabilities on the dates indicated.
December 31
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Total Assets Total Liabilities
2010 $399,690 $245,810
2011 $455,890 $304,810
2012 $588,040 $397,450
Lily began business on January 1, 2010, with an investment of $102,010 from stockholders.
From an analysis of the change in stockholders’ equity during the year, compute the net income (or loss)
(a) 2010, assuming Lily paid $14,012 in dividends for the year.
$
(b) 2011, assuming stockholders made an additional investment of $50,254 and Lily paid no dividends in 2011.
$
(c) 2012, assuming stockholders made an additional investment of $12,672 and Lily paid dividends of $32,530 in 2012.
$
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