Exercise 1-10 Your answer is partially correct. Try again Finch Company had the following assets and liabilities on the dates indicated December 31 2016 2017 2018 Total Assets $400,000 $460,000 $590,000 Total Liabilities $250,000 $300,000 $400,000 Finch began business on January 1, 2016, with an investment of $100,000 From an analysis of the change in owner's equity during the year, compute the net income (or loss) for: (a) 2016, assuming Finch's drawings were $15,000 for the year. Net income 35000 for 2016 (b) 2017, assuming Finch made an additional investment of $45,000 and had no drawings in 2017. Net income 15000 for 2017 (c) 2018, assuming Finch made an additional investment of $15,000 and had drawings of $25,000 in 2018 Net income 55000 for 2018 LINK TO TEXT VIDEO: APPLIED SKILLS