economic.asap!!

Page 5 of 6 Problem 5 1. At the beginning of the year, on 01/01/2000, Alice had S$150,000 cash as capital and a stock of raw materials worth $20,000. She had $15,000 in accounts receivable and $10,500 in accounts payable. 2. During the year 2000, Alice 2.1 Borrowed $50,000 through a note to the bank (i.e. for cash to be reflected in accounts payable) 2.2 Incurred $60,000 accounts payable for raw materials, which she received and added to her stock 2.3 Purchased equipment for a total cost of $90,000 by paying cash. 2.4 Paid $15.000.00 for labor and used up to $8,000.00 worth of raw materials to produce finished goods, which were sold for $70,000. 2.5 Collected $4,000 as cash from accounts receivable. 2.6 Paid $5,000 of accounts payable and $2,000 of bank note. a) Show the balance sheet at the beginning and the end of the year 2000, b) How much net income did Alice earn at the end of the year of 2000