195. For a & b, determine the amount of net income or net loss for the year.For c & d, determine the change in retained earnings during the year. (a) Revenues for the year totaled $88,500 and expenses totaled $40,500. Stockholders invested $15,000 in the company in exchange for stock during the year. (b) Revenues for the year totaled $175,000 and expenses totaled $220,500. The company paid dividends of $40,000 to investors during the year. (c) Revenues for the year totaled $109,000 and expenses totaled $46,000. Stockholders invested $12,000 in exchange for stock and received $16,000 in dividends during the year. (d) Revenues for Konner Co. totaled $223,800 and expenses totaled $221,300. Dividends of $35,000 were paid during the year. 196. The total assets and total liabilities of Paul’s Pools at the beginning and at the end of the current fiscal year are as follows: Jan. 1 Dec. 31 Total assets $280,000 $475,000 Total liabilities 205,000 130,000 (a) Determine the amount of net income earned during the year. Stockholders did not invest any additional assets in the business during the year and received no dividends. (b) Determine the amount of net income during the year. The assets and liabilities at the beginning and at the end of the year are unchanged from the amounts presented above. However, stockholders were paid $53,000 in dividends during the year (no additional capital stock was issued). (c) Determine the amount of net income earned during the year. The assets and liabilities at the beginning and at the end of the year are unchanged from the amounts presented above. However, the company issued an additional $35,000 in capital stock during June of the current fiscal year (but there were no dividends). (d) Determine the amount of net income earned during the year. The assets and liabilities at the beginning and at the end of the year are unchanged from the amounts presented above. However, the company issued an additional $12,000 in capital stock in August of the current fiscal year and distributed twelve monthly dividends of $1,500 each during the year.

195. For a & b, determine the amount of net income or net loss for the year.For c & d, determine the change in retained earnings during the year. (a) Revenues for the year totaled $88,500...

195. For a & b, determine the amount of net income or net loss for the year.
For c & d, determine the change in retained earnings during the year.

(a)	Revenues for the year totaled $88,500 and expenses totaled $40,500. Stockholders invested $15,000 in the company in exchange for stock during the year.
(b)	Revenues for the year totaled $175,000 and expenses totaled $220,500. The company paid dividends of $40,000 to investors during the year.
(c)	Revenues for the year totaled $109,000 and expenses totaled $46,000. Stockholders invested $12,000 in exchange for stock and received $16,000 in dividends during the year.
(d)	Revenues for Konner Co. totaled $223,800 and expenses totaled $221,300. Dividends of $35,000 were paid during the year.

196. The total assets and total liabilities of Paul’s Pools at the beginning and at the end of the current fiscal year are as follows:

(a)	Determine the amount of net income earned during the year. Stockholders did not invest any additional assets in the business during the year and received no dividends.
(b)	Determine the amount of net income during the year. The assets and liabilities at the beginning and at the end of the year are unchanged from the amounts presented above. However, stockholders were paid $53,000 in dividends during the year (no additional capital stock was issued).
(c)	Determine the amount of net income earned during the year. The assets and liabilities at the beginning and at the end of the year are unchanged from the amounts presented above. However, the company issued an additional $35,000 in capital stock during June of the current fiscal year (but there were no dividends).
(d)	Determine the amount of net income earned during the year. The assets and liabilities at the beginning and at the end of the year are unchanged from the amounts presented above. However, the company issued an additional $12,000 in capital stock in August of the current fiscal year and distributed twelve monthly dividends of $1,500 each during the year.

May 15, 2022