E1-25 Using the accounting equation, preparing financial statements, and
evaluating business performance [30–40 min]
Compute the missing amount for Felix Company. You will need to work through
total stockholders’ equity.
Requirements
1. Did Felix earn a net income or suffer a net loss for the year? Compute the amount.
2. Would you consider Felix’s performance for the year to be good or bad? Give
your reason.
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