use the worksheet to answer questions 22-25

2) Consider the following transactions for the month of January 2019 1/2/2019 The company paid $1,200 for insurance that will provide coverage over the next 12 months expected until next month through January 15 . 1/9/2019 The Company sold services on account for $8,000, Cash collection is not 1/i5/2019 The company paid $2,000 for salaries covering the payroll period January 1" 1/22/2019 A customer prepays $4,000 for services the company will not deliver until February . 1/31/2019 The company pays $2,000 in salaries to employees for the second half of January Using the acerual basis method of accounting, what is the amount of profit earned for the month of January? A) $5,000 B) $4,900 C) $3,900 D) $2,900 22) Net income for the year 2019 equals: A) S13,600 B) $18,900 C) $22,420 D) $29,640 23) Owner's Equity (Capital) at December 31, 2019 equals: A) $17,000 B) $15,160 C) $14,700 D) $13,680 24) Total assets at December 31, 2019 equals: A) $12,200 B) $15,400 C) $17,480 D) $19,720 25) Total liabilities at December 31, 2019 equals: A) $1.200 B) S2.180 C) $2,780 D) $6,180