EX 1-21 Balance sheets, net income 68 01-TX2 OBJ. 5 Financial information related to the proprietorship of Rockwell Interiors for February and March 20Y0 is as follows: Accounts payable February 29, 20YO 14 $280,000 March 31, 20YO $360,000 Accounts receivable 720,000 870,000 Cash 290,000 340,000 David Patel, capital Supplies ? ? 30,000 32,000 a. Prepare balance sheets for Rockwell Interiors as of February 29 and March 31, 20Y0. b. Determine the amount of net income for March, assuming that the owner made no additional investments or withdrawals during the month. c. Determine the amount of net income for March, assuming that the owner made no additional investments but withdrew $50,000 during the month.