The following selected data are for Alexei Imports for its first three years of operations.

Instructions

Determine the missing amounts.

Taking It Further

What information does the owner of a company need in order to decide whether he or she needs to invest additional cash in the business?

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2019 2020 2021 January 1: Total assets (a) $75,000 $127,000 Total liabilities (e) (f) (k) Total owner's equity (1) 60,000 December 31: Total assets (g) 170,000 75,000 Total liabilities Total owner's equity Changes during year in owner's equity: Investments by owner during the year Drawings by owner during the year Profit or loss for the year Total revenues for the year (b) (m) 45,000 (h) 100,000 45,000 (i) 5,000 (n) 10,000 (c) (d) 35,000 30,000 (1) 160,000 Total expenses for the year (0) 120,000 95,000