Financial information related to the proprietorship of Rockwell Interiors for February and March 20Y0 is as follows:

a. Prepare balance sheets for Ebony Interiors as of February 29 and March 31, 20Y0.
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, 20YO March 31, 20YO $280,000 $360,000 Accounts payable Accounts receivable 720,000 870,000 Cash 290,000 340,000 ? David Patel, capital Supplies 30,000 32,000