Following is a random list showing the account balances of various assets, liabilities, revenues and expenses for Tims Landscaping at December 31, 20X5, the end of its first year of operations.

Accounts receivable $15,000

Accounts payable 3,500

Salary expense 4,500

Repairs expense 800

Truck 8,500

Equipment 6,300

Notes payable 8,200

Cash 6,800

Supplies expense 1,600

Service revenue 12,800

Gasoline expense 800

Salary payable 2,200

The owner, Tim Mower, invested $22,600 at the beginning of the year and withdrew $5,000 during the year for personal use.

1.The net income/loss for the year was:

2.Total assets at December 31, 20X5, were:

3.Owner's equity at December 31, 20X5, was: