BUS 201 Case Study Project #1 Spring, 2018 kaende maa irections: The answers for both parts must be written legibly. If I cannot read your answer, I annot give you any credit. Show all of your work, as you can get partial credit for wrong nswers. This Project is due in class on February 7, Question #2 is on the reverse side. 1. (5 points) Below is a list of selective accounts at the end of the year from the Universal Corp Cash Accounts receivable Inventory Supplies Accounts payable Mortgage payable Salaries payable Owner's capital Withdrawals Revenue Wages expense Utility expense Advertising expense Rent expense 12,000 35,000 21,000 8,000 19,000 10,000 7,000 22,000 8,000 102,000 17,000 11,000 14,000 18,000 Required: What is the amount of net income that Universal has for the year? S o