Lone Psychic Experience is a sole proprietorship established this year. Alice Lone established the firm with capital of $$93,200.$ During the year she withdrew $$22,000$ as personal salary. Net income before tax for the year is $$67,200.$ Alice$$s average tax rate for income tax purposes is $25\%.$

Required $1$: What is the balance of the equity account in the year end financial statements? $

Required $2$: What is the balance of the equity account at the beginning of the first year? $

Required $3$: What is the maximum amount Alice can withdraw during the first year of operations? $