Using the data given below, calculate the income from unknown sources for years 2 and 3 respectively.
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Question:
Using the data given below, calculate the income from unknown sources for years 2 and 3 respectively.
Year 1 | Year 2 | Year 3 | |
Total Assets | $252,000 | $266,000 | $309,000 |
Total Liabilities | 244,000 | 134,000 | 64,000 |
Known Income | 30,000 | 69,000 | 74,000 |
Total Living Expenses | 17,500 | 10,800 | 8,800 |
a. | (i) 69,000; 74,000 | |
b. | (i) 65,800; 47,800 | |
c. | (i) 76,600; 56,600 | |
d. | (i) -3,200; -26,200 |
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