(a) If operations for an accounting period resulted in cash sales of $25,000, sales on account of $30,000, and expenses paid in cash of $50,000, did the business incur a net income or a net loss for the period? (b) What is the amount of net income or net loss? (c) If liabilities are $65,000 and owners equity is $35,000, the amount of the assets is: (d) If assets are $205,000 and owners equity is $75,000, the amount of the liabilities is: