Presented below is selected information related to Mohammed Ltd at December 31 20X1. Mohammed reports financial information monthly.

Accounts Payable AED3,000 Cash 7,000

Salaries Expenses Note Payable Rent Expense Accounts Receivable Dividends

AED16,500 25,000 10,500 13,500 7,500

Advertising Expense Service Revenue Equipment

6,000 54,000 29,000

Use the above information to: [a] Determine the total assets of Mohammed Ltd at December 31, 20X1. [b] Determine the net income that Mohammed Ltd reported for December, 20X. [c] Determine the equity of Mohammed Ltd at December 31, 20X1.