The summaries of balance sheet and income statement data follow.
Beginning of year:
Total assets $ 85,000
Total liabilities 62,000
Total owner's equity?
End of year:
Total assets 110,000
Total liabilities?
Total owner's equity 60,000
Changes during year in owner's equity:
Investments by owner?
Drawings 18,000
Total revenues 175,000
Total expenses 140,000
Required: Calculate the missing items above.
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