Use the following information to calculate for the year ended December 31, 2022 (a) net income, (b) ending owner's equity, and (c) total assets. $\begin{array}{lrlr}
\text { Supplies } & \$ 3,000 & \text { Revenues } & \$ 25,000 \
\text { Operating expenses } & 11,000 & \text { Cash } & 15,000 \
\text { Accounts payable } & 9,000 & \text { Drawings } & 1,000 \
\text { Accounts receivable } & 3,000 & \text { Notes payable } & 2,000 \
\text { Beginning capital } & 5,000 & \text { Equipment } & 8,000
\end{array}$

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The Answer of Use the following information to calculate for the year ended December 31, 2022 (a) net income, (b) ending owner's equity, and (c) total assets. $\begin{array}{lrlr}
\text { Supplies } & \$ 3,000 & \text { Revenues } & \$ 25,000 \
\text { Operating expenses } & 11,000 & \text { Cash } & 15,000 \
\text { Accounts payable } & 9,000 & \text { Drawings } & 1,000 \
\text { Accounts receivable } & 3,000 & \text { Notes payable } & 2,000 \
\text { Beginning capital } & 5,000 & \text { Equipment } & 8,000
\end{array}$

Use the Following Information to Calculate for the Year Ended