A. What error was made in this income statement?

b. How should this error be corrected? Show how you would correct the error in the income statement. (2 points)

2. One of your peers is working on the owner's statement of equity. He tells you that the owner ended the year with $25,000 in equity, after withdrawing $10,000.

a. Based on this information, how much did the owner invest in the business over the course of the year? (2 points)