San Mateo Healthcare had an equity balance of $1.38 million at the beginning of

Q: San Mateo Healthcare had an equity balance of $1.38 million at the beginning of

1. Net income $600,000. (1.98 million-1.38 million) 2. Zero Dividend: Net Income = $600,000 Dividend = 200000, Net Income = $600,000 + $200,000 = $800,000 Dividend = 200000, additional stock sales = $300,000 Net Income = $600,000+$200,000+$300,000 = $1,100,000

ID: 2383870 • Letter: S

Question

San Mateo Healthcare had an equity balance of $1.38 million at the beginning of the year. At the end of the year, its equity balance was $1.98 million. A.) Assume that San Mateo is a not-for-profit organization. What was its net income for the period? B.) Now assume that San Mateo is an investor-owned business. Assuming zero dividends, what was San Mateo's net income? Assuming $200,000 in dividends, what was its net income? Assuming $200,000 in dividends and $300,000 in additional stock sales, what was San Mateo's net income?

Explanation / Answer

1. Net income $600,000. (1.98 million-1.38 million)

Zero Dividend: Net Income = $600,000

Dividend = 200000,

Net Income = $600,000 + $200,000 = $800,000

Dividend = 200000, additional stock sales = $300,000

Net Income = $600,000+$200,000+$300,000 = $1,100,000

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San Mateo Company had the following account balances at before recording bad deb

San Mateo Healthcare had an equity balance of $1.38 million at the beginning of

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San Mateo Healthcare had an equity balance of $1.38 million at the beginning of

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