3) Presented below is selected information related to Flanagan Company at December 31, 2017. Flanagan reports financial information monthly. Equipment$10,000Utilities Expense$ 4,000 Cash8,000Accounts Receivable9,000 Service Revenue36,000Salaries and Wages Expense 7,000 Rent Expense11,000Notes Payable16,500 Accounts Payable2,000Owner's Drawings5,000

(a) Determine the total assets of Flanagan Company at December 31, 2017. (b) Determine the net income that Flanagan Company reported for December 2017. (c) Determine the owner's equity of Flanagan Company at December 31, 2017.