[Blitzkrieg]

Need help on this problem, plez: For a given year, beginning and ending total liabilities were $8,400 and $10,000, respectively. At year-end, owners'equity was $26,000 and total assets were $2,000 larger than at the beginning of the yrar. If new capital stock issued exceeded dividends by $2,400, net income (loss) for the year was apparently?
Thanks! ;D

[matrix]

Capital ending P26,000.00
Liabilities ending 10,000.00
_________
Assets ending P36,000.00
=========
Assets ending is larger than P2,000.00 at the beginning of the year. So therefore, the beginning total assets is P34,000. 00. With beginning total assets of P34,000 and beginning liabilities of P8,400 our beginning total stockholders equity would be P25,600.00.

Capital ending P26,000.00
Dividends 2,400.00
_________
Total P28,400.00
Less Capital, beg. 25,600.00
__________
NEt Income P 2,800.00
=========

Note: Problems like this try to use T-Account procedure in order to squeeze the balances.