Presented below is information related to Hughes Company.

(This is an accounting question Changes to owner's equity: Problem type 2)

How much did Hughes Company have indrawingfor the year?

Assets, January 1: $70,000

Liabilities, January: $149,000

Assets, December 31st: $94,000

Liabilities, December 31st: $56,000

Additional investments by owner: $12,800

Revenues: $22,300

Expenses: $13,300

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