Shane Sheffield began a business, Sheffield Company, on January 1, 2024, with an investment of $105,000. The company had the following assets and liabilities on the dates indicated: December 31

2024

Total Assets $392.000

Total Liabilities $225.000

2025

Total Assets 440,000

Total Liabilities 280,000

2026

Total Assets 515,000

Total Liabilities 310,000

Use the accounting equation and the change in owner's equity during the year to calculate the profit (or loss) for: (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) (a) 2024, assuming Shane Sheffield's drawings were $50,000 for the year. Profit / (Loss)

(b) 2025, assuming Shane Sheffield made an additional investment of $55,000 and had no drawings in 2024. Profit / (Loss)

(c) 2026, assuming Shane Sheffield made an additional investment of $10,000 and his drawings were $42,000 for the year.