Andruw Company had the following assets and liabilities on the

Andruw Company had the following assets and liabilities on the dates indicated.

Andruw began business on January 1, 2011, with an investment of $100,000.
Instructions
From an analysis of the change in owner’s equity during the year, compute the net income (or loss) for:
(a) 2011, assuming Andruw’s drawings were $15,000 for the year.
(b) 2012, assuming Andruw made an additional investment of $45,000 and had no drawings in 2012.
(c) 2013, assuming Andruw made an additional investment of $15,000 and had drawings of $25,000 in2013.

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  • CreatedOctober 24, 2011
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