$.$ Supply the missing item using the accounting equation: Score: Date: ASSETS LIABILITIES OWNER'S EQUITY Case $1$ P$120,000$ P$20,0002?60,00050,000380,000?30,000490,00010,000?5160,00060,000?675,000?50,000760,00010,000830,000?20,0009?60,00010?30,00080,000$ OWNER'S EQUITY Capital Beginning Gross Income Expenses Drawing Capital Ending Case $1$ P$20,000$ P$5,000$ P$1,000$ P$5002?10,0004,000$ P$55,000350,000?5,0001,00064,000458,00020,000?3,00065,000550,00030,00010,000?65,000$ IV$.$ Solve the following problems. $1.$ Mrs$.$ Reyes has $100,000$ cash invested in the business. She bought shop assets on account from Ace Furniture for $50,000.$ Questions: $1.$ How much are the assets of the business? $2.$ What is the amount of liabilities? $65$