Question

At the end of the current period, Maltese, Inc. reports the following amounts: Assets = $53,100; Liabilities = $20,300; Dividends = $4,340; Revenues = $25,500; Expenses = $13,100.


Calculate net income and stockholders' equity at the end of the period.

Answer 1

Answer:

Net Income = A Loss of -$1224

Step-by-step explanation:

Net Income = Total Revenues - Total Expenses

Total Revenues = $25,500

Total Expenses = $20,300 (Liabilities) , $4,340 (Dividends) , $13,100 (Expenses)

$25,500 - $37,740 = A Loss Of  -$1224