Question: Ahmed Shop started the year with total assets of $100,000 and total liabilities of $50,000. During the year, the business earned revenues of $200,000 and

Ahmed Shop started the year with total assets of $100,000 and total liabilities of $50,000. During the year, the business earned revenues of $200,000 and incurred expenses of $100,000. Ahmed made no capital contributions during the year, but did make withdrawals of $75,000. Calculate the amount of increase/decrease in Ahmed's equity for the year. Select one: a. $25,000 Increase O b. $60,000 Decrease O c. $65,000 Increase O d. $115.000 Increase

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