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A1Q3 The following selected data are for Alexei Imports for its first three years of operations. 2022 2023 2024 January 1: Total assets (a) $75,000

A1Q3 The following selected data are for Alexei Imports for its first three years of operations.

2022 2023 2024
January 1:
Total assets (a) $75,000 $127,000
Total liabilities 0 (e) (k)
Total owners equity 60,000 (f) (l)
December 31:
Total assets 75,000 (g) 170,000
Total liabilities (b) 45,500 (m)
Total owners equity 45,000 (h) 100,000
Changes during year in owners equity:
Investments by owner during the year 5,000 (i) 0
Drawings by owner during the year 0 10,000 (n)
Profit or loss for the year (c) 35,000 30,000
Total revenues for the year (d) (j) 160,000
Total expenses for the year 120,000 95,000 (o)

Instructions

  1. Determine the missing amounts.
  2. What information does the owner of a company need in order to decide whether they need to invest additional cash in the business?

you did not give the values for b,h,d and g.

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