Please help me answer this, I have to get the Owner's equity of $179,000 and a Gross profit of $8,300.

Module 7 Assignment #1 Introductory Accounting does not require complex math or complicated procedures. It does require an understanding of where to place figures correctly in the key financial documents. This Homework is a two-step process: 1. Place the "Value" of the items listed below into either the Balance Sheet column or the Income Statement column. The 2n is to double check your answers! (not for points) Item Value Balance Sheet Income Statement Example: Trucks (4) $97,000 $97,000 Monthly Loan Payments $ 920 16 Pallets of Pipe $16,000 Advertising $ 2.200 Office Computers $14,000 Bank Loan $275,000 Ditch Digger $18,000 Materials Used Last 3 Months $27,000 Utilities $12,500 Accounts Payable $14,500 Patent for Tunneling technique $50,000 Revenue for last 3 Months $68,500 Salaries for last 3 Months $11,000 Accounts Receivable $17.000 Warehouse $175.000 Office Rent for last 3 Months $ 2.500 Beginning Inventory $12,500 Ending Inventory $ 8,500 Loan to employee for new S18.000 Goodwill $65.000 2. Organize the items into the appropriate categories by placing the values under the headings below, then subtracting the Liabilities from the Assets to get Owners Equity. A. ASSETS LIABILITIES = OWNERS EQUITY B. Revenue - Cost Of Goods Sold - Gross Margin Expenses = Gross Profit HINT: Review your answers. If you have the items in the right places, you should be able to calculate an Owner's Equity of $179,000 and a Gross Profit of $8,300. If you don't get those answers, then you ve probably have something in the wrong place