BACKTRACK is a service-oriented business. X, Capital amounted to P36,000 at the end of 2021. Based on the accounting records, X, Capital increased by 16,000. Withdrawals amounted to 20% of his beginning capital, while additional investments accounted for 10% of the ending capital. A breakdown of business expenses showed the following: Utilities expense 8,000; Rent Expense 9,000; and Supplies expense 2,000.

Identify the required below.

1. Beginning Capital.

2. Withdrawals

3. Net Income

4. Service Revenue