The total assets and the total liabilities of a business at the beginning and at the end of the year appear below. During the year, the owner had withdrawn $60,000 for personal use and had made an additional investment of $45,000 in the business. Beginning of year: total balance of Assets: $305,000 Beginning of year: total balance of Liabilities: $200,000 End of year: total balance of Assets: $365,000 End of year: total balance of Liabilities: $230,000 Calculate the net income for the year, but you must show in detail that how you come up with your number. Please state all your support and rationale/or your own explanation for others to understand clearly.