Angie opened a hair salon, Angel Hair, which commenced its operation on 1st January 2020. Angel Hair operated in Seremban. On 1st January 2020, Angie introduced cash of RM55,000, an equipment that cost RM17,000. On the same day, Metropolis Bank released RM10,000 cash as loan to Angel Hair. In January 2020, Angel Hair earned a revenue of RM15,078 and incurred the following expenses: Salaries Rent RM 5,000 3,200 Utilities Cleaning 3,000 400 On 27th January 2020, Angie withdrew RM1,000 for personal use. She recorded this transaction as an increase expense and decrease in cash. Required: a) Determine the owner's equity amount as at 1st January 2020? (4 marks) (CLO1:PLO1:C3) b) Calculate the net income (or net loss) for the month of January 2020. (5 marks) (CLO1:PLO1:C3) c) Explain any FIVE (5) accounting principles that applied by Angel Hair. (10 marks) (CLO1:PLO1:C4)