Four different corporations, Aries, Gemini, Leo, and Pisces, show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of stockholders' equity, are summarized as follows: Total Assets Total Liabilities Beginning of the year $75,200 $30,100 End of the year $120,300 $50,500 On the basis of the above data and the following additional information for the year, determine the net income (or loss) of each company for the year. (Hint: First determine the amount of increase or decrease in stockholders' equity during the year.) Aries: No additional common stock was issued, and no dividends were paid. Gemini: No additional common stock was issued, but dividends of $4,400 were paid. Leo: Additional common stock of $9,200 was issued, but no dividends were paid. Pisces: Additional common stock of $13,200 was issued, and dividends of $5,200 were paid.
