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The owner of a firm had capital of $85,000 on January 1, 2016, and made...

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Accounting

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The owner of a firm had capital of $85,000 on January 1, 2016, and made withdrawals of $33,000 during 2016. The business earned a net income of $45,000 for the year. 1. What amount of capital was shown as of December 31, 2016, on the statement of owner's equity? Capital, Dec.31, 2016 2. How much was the increase or decrease in capital for the year? (Input the amount as 51:56 e positive value.) Change in capital for the year Click to select) Click to select) v

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