Net income and stockholders’ equity for four businesses Four different corporations, Jupiter, Mars, Saturn, and Venus, show the same balance sheet data at the beginning and end of a year. These data,...

Net income and stockholders’ equity for four businesses

Four different corporations, Jupiter, Mars, Saturn, and Venus, show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of stockholders’ equity, are summarized as follows:

On the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year. (Hint: First determine the amount of increase or decrease in stockholders’ equity during the year.) Jupiter: No additional common stock was issued and no dividends were paid. Mars: No additional common stock was issued, but dividends of $36,000 were paid. Saturn: Additional common stock of $60,000 was issued, but no dividends were paid. Venus: Additional common stock of $60,000 was issued and dividends of $36,000 were paid