For Each of the Following, Determine the Amount of Net

Essay

For each of the following, determine the amount of net income or net loss for the year.
(a)Revenues for the year totaled $71,300 and expenses totaled $35,500. The owner made an additional investment of $15,000 during the year.
(b)Revenues for the year totaled $220,500 and expenses totaled $175,000. The owner withdrew $40,000 during the year.
(c)Revenues for the year totaled $149,000 and expenses totaled $172,000. The owner invested an additional $12,000 and withdrew $16,000 during the year.
(d)Revenues for the year totaled $198,150 and expenses totaled $174,200. The owner withdrew $35,000 during the year.