Use the following information to calculate for the year ended December 31, 2020 (a) net income,...

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Use the following information to calculate for the year ended December 31, 2020 (a) net income, (b) ending owner's equity, and (c) total assets. Supplies $25,000 $ 3,000 11,000 Operating expenses 15,000 Accounts payable 9,000 1,000 Accounts receivable 3,000 2,000 Beginning Capital 5,000 8,000 (a) Net income (b) Ending owner's equity (c) Total assets Revenues Cash Drawings Notes payable Equipment 14,000 15,000 $49,000 Use the following information to calculate for the year ended December 31, 2020 (a) net income, (b) ending owner's equity, and (c) total assets. Supplies $25,000 $ 3,000 11,000 Operating expenses 15,000 Accounts payable 9,000 1,000 Accounts receivable 3,000 2,000 Beginning Capital 5,000 8,000 (a) Net income (b) Ending owner's equity (c) Total assets Revenues Cash Drawings Notes payable Equipment 14,000 15,000 $49,000