-------- Note: Show all steps and calculations if you want up-votes for your answer thanks

fx A B D E 1 E1-25 2 3 4 10 Using the accounting equation, preparing financial statements, and evaluating business performance [30-40 min] Compute the missing amount for Felix Company. You will need to work through total owner's equity. 5 6 7 8 $ 0 9 $45,000 29,000 19,000 Beginning: Assets Liabilities Ending: Assets Liabilities Owner's Equity: Owner investments ... Owner drawings Income Statement: Revenues Expenses $55,000 38,000 $242,000 ? 10 11 12 13 14 15 16 17 18 19 20 21 Requirements 1. Did Felix earn a net income or suffer a net loss for the year? Compute the amount. 2. Would you consider Felix's performance for the year to be good or bad? Give your reason