The financial statement items are from Rugen Company's adjusted trial balance at year-end, July 31, 2016. Please show solutions

Salaries and wages payable $1,980 Notes payable (long-term) $3,000

Salaries and wages expense 45,700 Cash 5,200

Utilities expense 21,100 Accounts receivable 9,780

Equipment 38,000 Accumulated depreciation 6,000

Accounts payable 4,100 Owner's Drawings 4,000

Service revenue 57,200 Depreciation expense 4,000

Rent revenue 6,500 Owner's capital, beginning 48,000

Unearned revenue 1,000

1 What is the Net Income of Rugen Co.?

2 How much is Total Assets?

3 How much is Total Liabilities?

4 What is Owner's Equity? Note: Please show the different sections of Owner's Equity in getting the balance of Owner's Equity at July 31, 2016. DON'T USE THE ACCOUNTING EQUATION IN GETTING THE OWNER'S EQUITY AMOUNT.