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Business, 25.01.2020 03:31 ggdvj9gggsc

The summaries of balance sheet and income statement data follow.

beginning of year:
total assets $ 85,000
total liabilities 62,000
total owner’s equity ?

end of year:
total assets 110,000
total liabilities ?
total owner’s equity 60,000

changes during year in owner’s equity:
investments by owner ?
drawings 18,000
total revenues 175,000
total expenses 140,000

required: calculate the missing items above.

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The summaries of balance sheet and income statement data follow.

beginning of year:
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