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Given the following information and the accounting

Given the following information and the accounting equation. Determine the net income of the year for each of the scenarios listed below Assets Liabilities Beginning of Year $ 70,000 $30,000 End of the Year $100,000 $50,000 Use the following assumptions given: a) No investments were made in the business and no dividends were paid during the year. b) Investments of $10,000 were made in the business, but no dividends were paid during the year. c) No investments were made, but dividends of $2,000 were paid during the year.

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