From the following balances you are required to prepare a Balance Sheet and answer the following questions. Account names Amount in OMR Net profit 400,000 Capital 800,000 Drawings 80,000 Long term loans 160,000 Accounts payable 64,000 Rent payable 8,000 Salary payable 16,000 Building 880,000 Machinery 248,000 Furniture 64,000 Cash 8,000 Accounts receivable 120,000 Supplies 48,000 1. What is the amount of Total Owner's equity? (1 Mark) 2. What is the amount of Total assets? (1 Mark) 3. What is the amount of Total liabilities? (1 Mark)