Cullumber Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2021 2022 2023 $461,000 $521,000 $651,000 for 2021 Cullumber began business on January 1, 2021, with an investment of $95,000. From an analysis of the change in owner's equity during the year, compute the net income (or loss) for: (a) 2021, assuming Cullumber's drawings were $16,000 for the year. $295,000 $345,000 for 2022 $445,000 (b) 2022, assuming Cullumber made an additional investment of $40,000 and had no drawings in 2022. for 2023 $ (c) 2023, assuming Cullumber made an additional investment of $24,000 and had drawings of $32,000 in 2023. $

Cullurnber Compary had the following assets and liabilities on the dates indicated. Cullumber began business on January 1, 2021, with an investment of $95,000. From an analysis of the change in owner's equity during the year, compute the net income (or loss) for: (a) 2021, assuming Cullumber's drawings were $16,000 for the year. for 2021 $ (b) 2022, assuming Cullumber made an additional investment of $40,000 and had no drawings in 2022. for 2022 5 (c) 2023, assuming Cullumber made an additional imvestment of $24,000 and had drawings of $32,000 in 2023 . for 2023 $