Problem:
San Mateo Healthcare had an equity balance of $1.50 million at the beginning of the year. At the end of the year, its equity balance was $2.10 million.
Required:
a. Assume that San Mateo is a not-for-profit organization. What was its net income for the period?
b. Now, assume that San Mateo is an investor-owned business.
Assuming zero dividends, what was San Mateo's net income?
Assuming $200,000 in dividends, what was its net income?
Show your all work and explain in detail.