ACCOUNTING-Iverson Company had the following assets and liabilities on the dates indicated.

QUESTION

accounting help helpIverson Company had the following assets and liabilities on the dates indicated.December 31Total AssetsTotal Liabilities2013$499,448$252,6432014$559,448$302,6432015$689,448$402,643Iverson began business on January 1, 2013, with an investment of $93,299.From an analysis of the change in owner’s equity during the year, compute the net income (or loss) for:(a)2013, assuming Iverson’s drawings were $23,874 for the year.Net income for 2013$(b)2014, assuming Iverson made an additional investment of $40,209 and had no drawings in 2014.Net loss for 2014$(c) 2015, assuming Iverson made an additional investment of $15,978 and had drawings of $19,196 in 2015.Net income for 2015$

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