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At the end of its first year of operations, FDN Trading reported net income of P30,000. It also had account balances of: Cash, 1 19,000;
At the end of its first year of operations, FDN Trading reported net income of P30,000. It also had account balances of: Cash, 1 19,000; Office Supplies, P5,200: Equipment, P26,000; and Accounts Receivable, P8,000. The owner invested P18,000 at the start of its first year of operations and withdrew 96,700 for personal use. How much is total liabilities at the end of the year
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