11. If beginning capital was $25,000, ending capital is $37,000, and the owner's withdrawals were $23,000, the amount of net income or net loss for the period was: a. net loss of $35,000 b. net income of $35,000 c. net income of $14,000 d. net loss of $14,000 12. A company began the accounting period with $50,000 in owner's capital, ended with $75,000 in owner's capital, and the owner withdrew $30,000 during the period for personal use. What was the company's net income or loss for the period? a. $55,000 net income. b. $30,000 net loss. c. $5,000 net loss. d. $5,000 net income. 13. As of December 31, 2010, Majan Company has assets of $3,500 and owner's equity of $2,000. What are the liabilities for Majan Company as of December 31, 2010? .a. $1,500 .b. $1,000 c. $2,500. d. $2,000