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Exercise 1-16 (Algo) Computing net income using accounting equation LO P2...

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Accounting

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Exercise 1-16 (Algo) Computing net income using accounting equation LO P2 Shep Company's records show the following information for the current year: Determine net income (loss) for each of the following separate situations. Note: For all requirements, losses should be entered with a minus sign. a. Additional common stock of $6,000 was issued, and dividends of $10,000 were paid during the current b. Additional common stock of $15,750 was issued, and no dividends were paid during the current year. c. No additional common stock was issued, and dividends of $15,000 were paid during the current year

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