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at january 1, a sole proprietorships assets totaled P210,000 and its liabilities amounted to P120,000. During the year, owner investments amounted to P72,000 and OWNER

at january 1, a sole proprietorships assets totaled P210,000 and its liabilities amounted to P120,000. During the year, owner investments amounted to P72,000 and OWNER WITHDRAWALS totaled P75,000. At year-end, assets totaled P270,000, and liabilities amounted to P171,000. the amount of net income for the year was?

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