1 A sole proprietorship had the following assets and liabilities at the beginning and end of this year. Assets Liabilities Beginning of the year End of the year $ 88,500 $ 29,500 129,500 54,500 & 00:48:54 If the owner withdrew $850 cash per month for personal use and invested an additional $25,000 cash The net income earned or net loss incurred by the business during the year is (If the answer is a net loss, it should be indicated with a minus sign.) Numeric Response