An organization undertakes various activities in pursuit of business success. Identify an organization’s three major business activities, and describe each activity.

The following financial statement information is from five separate companies

Required

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Company Company Company Company Company W x Y Z December 31, 2012 Assets.... $54,000 $80,000 $141.500 $92,500 $144,000 Liabilities 25,000 60,000 68,500 51,500 ? December 31, 2013 Assets.... 59,000 100,000 186,500 ? 170,000 Liabilities 36,000 ? 65,800 42,000 42,000 During year 2013 Owner investments. Net income or (loss)... Owner cash withdrawals... 5,000 20,000 ? 48,100 60,000 ? 40,000 18,500 24,000 32,000 5,500 2,000 0 20,000 8,000