Question 2 --- SHORT PROBLEMS (CLO 2] (5 marks) Instructions: Present the solutions, with appropriate supporting calculations, for each of the following independent problems. 1. Given the following information, compute the balance in the Owner's Capital account at January 1, 2018 for MRM Service Owner's Capital-December 31, 2018 $6,800,000 Owner's investments during 2018 cvest 1,200,000 Owner's withdrawals during 2018 debit 3,200,000 Net income for 2018 5,000,000 2. Given the following information, determine the three missing amounts. Beginning of the Year Total Assets $2,480,000 Total Liabilities 920,000 Total Owner's Equity A Owner's Equity Changes End of the Year During the Year Total Assets B Investments $880,000 Total Liabilities $1.600,000 Drawings 400,000 Total Owner's Equity 2,320,000 Revenues Expenses 2,280,000