18. In February 2017, Maria Osgood invested an addi- tional $10,000 in her business, Osgood's Pharmacy, which is organized as a proprietorship. Osgood's accountant, Carl Sota, recorded this receipt as an increase in cash and revenues. Is this treatment appropriate? Why or why not? 19. "A company's net income appears directly on the income statement and the owner's equity statement, and it is included indirectly in the company's balance sheet." Do you agree? Explain. 20. Saylor Enterprises had a capital balance of $168,000 at the beginning of the period. At the end of the accounting period, the capital balance was $198,000. (a) Assuming no additional investment or withdraw- als during the period, what is the net income for the period? (b) Assuming an additional investment of $13,000 but no withdrawals during the period, what is the net income for the period? 21. Summarized operations for Bayles Co. for the month of July are as follows. Revenues recognized: for cash $20,000; on account $70,000. Expenses incurred: for cash $26,000; on account $40,000 Indicate for Bayles Co. (a) the total revenues, (b) the total expenses, and (c) net income for the month of July. 22. The basic accounting equation is Assets = Liabilities + Owner's equity. Replacing the words in that equation with dollar amounts, what is Apple's accounting equa- tion at September 24, 2013? (Hint: Owner's equity is equivalent to shareholders' equity.)