Eagle Corp. operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At the end of the current period

Eagle Corp. operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At the end of the current period, the company reports the following amounts: Assets = $41,000; Liabilities = $22,500; Dividends = $2,100; Revenues = $12,200; Expenses = $8,100.

Required:
1.	Calculate net income.

2.	Calculate stockholders' equity at the end of the period.

Explanation:

1.

Revenues			−	Expenses			=	Net Income
$	12,200		−	$	8,100		=	$	4,100

2.

Assets			=	Liabilities			+	Stockholders' Equity
$	41,000		=	$	22,500		+	$	X
$	41,000		−	$	22,500		=	$	18,500