Toth Company had the following assets and liabilities on the dates indicated:
December 31
Total Assets
Total Liabilities
2016
400,000
260,000
2017
480,000
300,000
2018
590,000
400,000
Toth began business on January 2016 with an investment of 100,000 from stockholders. Toth paid 15,000 in dividends for the year 2016.
Instructions: From an analysis of the change in stockholders' equity during the year, compute the Net Income or Loss for:
1. 2017, assuming stockholders made an additional investment of 50,000 and Toth paid no dividends in 2017.
2. 2018, assuming stockholders made an additional investment of 15,000 and Toth paid dividends of 30,000 in 2018.