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  3. at the end of 2024, sol company reported the follo

At the end of 2024, Sol Company reported the following amounts on its balance sheet:...

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Accounting

At the end of 2024, Sol Company reported the following amounts on its balance sheet:
Cash
$27,600
Accounts receivable
129,100
Equipment
78,300
Land
250,000
Accounts payable
105,000
Common stock
200,000
Retained earnings
180,000
Answer each of the following independent questions:
A. Assume that Sols stockholders equity on January 1,2024 was $310,000. Sol did not issue common stock during the year, but it paid $15,000 cash in dividends. How much is Sols net income or loss for 2024?
B. Assume that Sols stockholders equity on January 1,2024 was $357,000, and that Sol issued additional common stock of $50,000 and paid $24,000 in cash dividends before the end of 2024. What was Sols net income or loss for 2024?

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