18. The following information is available for La-Isla Company for the month of June. How much is the profit for the month? Employee salaries Interest paid on bank loan Rent paid to landlord Service Revenue a. So b. $10,000 c. $30,000 $15,000 $2,500 $12,500 $50,000 d. $20,000 19. Cheese Company reported equity of $22,000 on its December 31, 2021 balance sheet. The following information is available for the year ended December 31, 2021. Revenue Expenses Liabilities $73,000 $59,000 $11,000 What are the total assets of Cheese Company on December 31, 2021? a. $14,000 b. $25,000 c. $35,000 d. $47,000 20. If equity is $30,000 and liabilities are $73,000, then assets equal? a. $40,000 b. $60,000 c. $73,000 d. $103,000 21. Which of the following business transactions would increase the equity of ABC Limited? a. ABC received a $1,200 cash payment on account from a customer. b. ABC Limited's owner withdrew $900 cash to cover personal living expenses. c. ABC purchased a new machine for $45,000 on account. d. ABC billed a customer $14,800 for consulting services provided during the month. 5