11 AM 18 Question 34 2 pts The beginning of the year account balances for Fred's Bookstore are: Total assets $40,000 Total owner's equity 20,000 Question: During the year, total assets increased by $18,000 and total liabilities increased by $12,000. The owner withdrew $4,000 from the business and made no new investment. Net income for the year is: $10,000 $30.000 $14.000 not determinable using the available information Question 35 2 pts The total assets and liabilities at the beginning and end of the year for Tulane Company, a sole proprietorship, are as follows