How do we find the answers to B and C ?

a. Recall that the balance sheet is a formal presentation of the accounting equation, such that total assets must equal total liabilities and owner's equity.

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.