Presented below is selected information related to Howard Company at December 31, 2014. Howard… 1 answer below »

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Presented below is selected information related to Howard Company at December 31, 2014. Howard reports financial information monthly. Accounts Payable …………. $ 3,000 Cash ………………. 4,500 Advertising Expense ………… 6,000 Service Revenue …………. 51,500 Equipment ……………. 29,000 Salaries and Wages Expense ……… $16,500 Notes Payable ………….. 25,000 Rent Expense …………… 10,500 Accounts Receivable ………… 13,500 Owner’s Drawings …………. 7,500 (a) Determine the total assets of Howard Company at December 31, 2014. (b) Determine the net income that Howard Company reported for December 2014. (c) Determine the owner’s equity of Howard Company at December 31, 2014.