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A sole proprietorship had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year

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A sole proprietorship had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $ 68,500 124,500 Liabilities $ 29,500 50,500 If the owner withdrew $850 cash per month for personal use and invested an additional $25,000 cash The net income earned or net loss incurred by the business during the year is: (If the answer is a net loss, it should be indicated with a minus sign.)

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