A business had the following amounts of assets and liabilities at the beginning and end of a recent year. Beginning of the year End of the year Assets Liabilities $93,000 $42,000 132,000 64,000 Determine the profit earned or net loss incurred by the business during the year under each of the following unrelated assumptions a. The owner made no additional investments in the business and withdrew no assets during the year. 4 1 15 points 00 A business had the following amounts of assets and liabilities at the beginning and end of a recent year Beginning of the year End of the year $93,000 Assets Liabilities $42,000 132,000 64,000 Determine the profit earned or net loss incurred by the business during the year under each of the following unrelated assumptions a. The owner made no additional investments in the business and withdrew no assets during the year Profit $ 17,000 b. The owner made no additional investments in the business during the year but withdrew $5,350 per month to pay personal living expenses