Use the description below and consider the ACCOUNTING EQUATION to solve. Financial Matters Company, began the year with $125,000 in liabilities and equity combined. During the year, assets increased $75,000 and liabilities increased $70,000. At year-end, the owner's claim on assets was $62,000. What were Total Liabilities at the Beginning AND End of the year? QUESTION 5: 10 POINTS - Find the errors... Not GAAP Followers, Inc prepared the following income statement. Not GAAP Followers, Inc Income Statement as of December 31, 2020 Revenue Unearned Revenue Consulting Revenue $10 50 Total Revenue $60 5 Expenses Prepaid Rent Automobile Loan Wages Expense 30 10 Total Expenses $45 Net Income $15 *REQUIRED 8 Points - Identify the four errors on the statement (not including Net Income) 2 Points - What is the correct Net Income? (You don't need to prepare a statement, just the answer)