Based on the balance sheet of Company MSK, we can find the unknown amount of Net Income (loss) to be $18,843.
What is the Net Income (loss)?
The Assets as at 2021 should be equal to the sum of liabilities and equity.
The Equity is:
= Issued stocks + Net income - Dividends
The missing figure is therefore:
35,564 = 15,721 + 1,400 + Net Income - 400
Net Income = 35,564 + 400 - 15,721 - 1,400
= $18,843
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