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Larkspur, Inc. had the following assets and liabilities on the dates indicated.

December 31 Total Assets Total Liabilities
2018 $468,000 $324,000
2019 $548,000 $374,000
2020 $678,000 $474,000

Larkspur, began business on January 1, 2018, with an investment of $92,000 from stockholders.

From an analysis of the change in stockholders’ equity during the year, compute the net income (or loss) for:

(a) 2018, assuming Larkspur, paid $15,000 in dividends for the year.

Net income (loss) for 2018

$___________

(b) 2019, assuming stockholders made an additional investment of $45,000 and Larkspur, paid no dividends in 2019.

Net income (loss) for 2019

$____________

(c) 2020, assuming stockholders made an additional investment of $24,000 and Larkspur, paid dividends of $20,000 in 2020.

Net income (loss) for 2020

$_______________

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