The following selected data are for Carducci Importers for its first three years of operations:

Instructions

Determine the missing amounts.

Taking It Further

What information does the owner of a company need in order to decide whether he or she is able to withdraw cash from the business?

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2019 2020 2021 January 1: Total assets $ 40,000 (f) Total liabilities 50,000 Total owner's equity (a) 75,000 (1) December 31: Total assets (b) 140,000 (g) 172,000 Total liabilities 50,000 65,000 (c) Total owner's equity Changes during year in owner's equity: Investments by owner during the year Drawings by owner during the year Profit or loss for the year Total revenues for the year Total expenses for the year (m) 97,000 (n) 7,000 (h) 15,000 36,000 (d) (0) 40,000 (i) 132,000 157,000 (e) 95,000 126,000