The records of Felix Company show the following at December 31, 2016 – Beginning assets: $56,000, beginning liabilities: $14,000, Ending assets: $78,000, ending liabilities: 46,000.EQUITY: owner contributions – $6,000, Owner withdrawals – 19000, revenues – 290,000, expenses – ?. 1)compute missing amount for felix company. you will need to work through owner’s equity. 2) did felix company earn a net income or suffer a net loss for the year? compute the amount. I CAN ONLY SEE THE QUESTIONS ONE AT A TIME BUT I’LL SEND THEM DIRECTLY TO YOU AS I GO ALONG
