Figgaro Company began operations on August $1.$ The Company$$s accounts and their balances, as of the end of August, are included below. All accounts have normal balances:

Accounts receivable $ $36,000$ Cash $ $27,000$

Equipment $59,000$ Advertising expense $5,000$

Service revenues $75,000$ Accounts payable $31,000$

Rent expense $3,600$ J$.$ Figgaro, Withdrawals $24,000$

Office supplies $1,500$ Salaries expense $30,000$

Notes payable $22,000$ J$.$ Figgaro, Capital $58,100$

a$.$ Calculate net income.

b$.$ Determine the amount of owner$$s equity to be shown on the August $31$ balance sheet.