4-Presented below is selected information related to Flanagan Company at December 31, 2012. Flanagan reports financial information monthly.(15 marks) Equipment $10,000 Cash 8,000 Accounts Receivable 9,000 Salaries and Wages Expense 7,000 Notes Payable 16,500 Owner's Drawings 5,000 Utilities Expense $ 4,000 Service Revenue 36,000 Rent Expenses 11,000 Accounts Payable 2,000 Instructions: (a)Determine the total assets of Flanagan Company at December 31, 2012. (Marking: 1 mark for each step x5 5 marks) (b)Determine the net income that Flanagan Company reported for December 2012. (Marking: 1 mark for each step x 5 # 5 marks) (c)Determine the owner's equity of Flanagan Company at December 31, 2012. (Marking: 1 mark for each stepx 5 #5 marks)