Question: 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 = $40,000; Liabilities = $22,000; Dividends = $2,000; Revenues = $12,000; Expenses = $8,000.
Required: 1. Calculate net income.
2. Calculate stockholders' equity at the end of the period.