The total assets and liabilities of Oriole Company at January $1$ and December $31,2020$ are presented below.

$($a$)$

Your answer is correct.

Assume owner's drawings of $$11,200$ were paid and no additional investment was made during the year. Revenues were

$$105,000.$ Compute $($a$)$ net income, and $($b$)$ expenses. $($Enter loss using either a negative sign preceding the number e$.$g$.-45$

or parentheses e$.$g$.(45).)$

$($a$)$ Net income$/($loss$)$ $

$($b$)$ Expenses

$

Assume an additional investment was made for $$4,500$ and no drawings were paid during the year. Expenses were $$42,000.$

Compute $($a$)$ net income, and $($b$)$ revenues. $($Enter loss using either a negative sign preceding the number e$.$g$.-45$ or

parentheses e$.$g$.(45)$pl$.)$

$($a$)$ Net income$/($loss$)$