A business had the following assets and liabilities at the beginning and at the end of a year:

Determine the net income or net loss of the business during the year under each of the following unrelated assumptions:

a. The owner of the business made no additional investments in the business and no withdrawals of assets from the business during the year.
\(b\). The owner made no additional investments in the business during the year but had withdrawn \(\$ 1,800\) per month to pay personal living expenses.

c. During the year, the owner had made no withdrawals but had made a \(\$ 30,000\) additional investment in the business.

d. The owner had withdrawn \(\$ 2,400\) from the business each month to pay personal living expenses, and near the year-end invested an additional \(\$ 12,000\) in the business.

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Beginning of the year End of the year. Assets Liabilities $78,000 90,000 $24,000 12,000