Four different proprietorships, Jupiter, Mercury, Saturn, and Venus, show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of owner's equity, are summarized as follows:
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On the basis of the above data and the following additional information for the year, determine the net income (or loss) of each company for the year.
Jupiter: The owner had made no additional investments in the business and had made no withdrawals from the business.
Mercury: The owner had made no additional investments in the business but had withdrawn $72,000.
Saturn: The owner had made an additional investment of $162,000 but had made no withdrawals.