The accounts of Odie Company with the increases or decreases that occurred during the past year are as follows: Except for net income, an investment of $3,000 by the stockholder, and a dividend of $11,000 by the stockholder, no other items affected the stockholders' equity balance. Using the balance sheet equation, compute net income for the past year.

Question

The accounts of Odie Company with the increases or decreases that occurred during the past year are as follows:  Except for net income, an investment of $3,000 by the stockholder, and a dividend of $11,000 by the stockholder, no other items affected the stockholders' equity balance. Using the balance sheet equation, compute net income for the past year.

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The Answer of The accounts of Odie Company with the increases or decreases that occurred during the past year are as follows:  Except for net income, an investment of $3,000 by the stockholder, and a dividend of $11,000 by the stockholder, no other items affected the stockholders' equity balance. Using the balance sheet equation, compute net income for the past year.

The Accounts of Odie Company with the Increases or Decreases