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  3. 3. acmes december 31, 2017 and 2018 balance sheet

3. ACMEs December 31, 2017 and 2018 balance sheet lists shareholders equity of $700,000 and...

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Accounting

3. ACMEs December 31, 2017 and 2018 balance sheet lists shareholders equity of $700,000 and $800,000 respectfully. Assume ACMEs transactions with shareholders during 2018 included (1) cash dividends declared and paid in the amount of $50,000 and (2) stock options exercised with an exercise price of $100,000, but with a market value of $220,000, and (3) treasury repurchases (i.e., stock buybacks) of $175,000 for shares that were originally issued for $20,000. What is ACMEs 2018 net income (loss) assuming no other comprehensive income? (6 points)

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