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Fill in the blanks Cullumber Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2019 $461,000 $295,000

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Cullumber Company had the following assets and liabilities on the dates indicated. December 31 Total Assets Total Liabilities 2019 $461,000 $295,000 2020 $521,000 $345,000 2021 $651,000 $445,000 Cullumber began business on January 1, 2019, 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) 2019, assuming Cullumber's drawings were $16,000 for the year. * Net income v for 2019 (b) 2020, assuming Cullumber made an additional investment of $40,000 and had no drawings in 2020. X for 2020 (c) 2021, assuming Cullumber made an additional investment of $24,000 and had drawings of $32,000 in 2021. for 2021

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