Financial information related to the proprietorship of Ebony Interiors for February and March 2019 is as follows:

a. Prepare balance sheets for Ebony Interiors as of February 29 and March 31, 2019.
b. Determine the amount of net income for March, assuming that the owner made no additional investments or withdrawals during the month.
c. Determine the amount of net income for March, assuming that the owner made no additional investments but withdrew $50,000 during the month.

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February 29, 2019 Accounts payable Accounts receivable Cash Justin Berk, capital Supplies March 31, 2019 $400,000 960,000 380,000 $310,000 800,000 320,000 30,000 35,000