A sole proprietorship had the following assets and liabilities at the beginning and end of a recent year:

Determine the net income earned or net loss incurred by the business during the year for each of the following separate cases:

a. Owner made no investments in the business and withdrew no assets during the year.

b. Owner made no investments in the business but withdrew \($1,250\) per month for personal use.

c. Owner withdrew no assets during the year but invested an additional \($45,000\) cash.

d. Owner withdrew \($1,250\) per month for personal use and invested an additional \($25,000\) cash.

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Assets Liabilities Beginning of the year. End of the year.... $ 70,000 $30,000 115,000 46,000