Ramos Corp

question 102

Essay

Ramos Corp.started business at the beginning of the year, with assets of $600,000 and stockholders' equity of $240,000.By the end of the year, assets increased by $80,000 and liabilities increased by $60,000.Other than net income or loss, the only change in stockholders' equity was dividends declared and paid of $55,000.
A) What was the amount of Ramos Corp.stockholders' equity at the end of the year?
B) What was the amount of Ramos Corp.net income or net loss for the year?

• A) What was the amount of Ramos Corp.stockholders' equity at the end of the year?
• B) What was the amount of Ramos Corp.net income or net loss for the year?

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