Accounting question?? help any accountants out there???

Lily began business on January 1, 2007, with an investment of $100,000. in 2007 total asset was 400,000 and liabilities 250,000 assuming the lily%26#039;s drawing was 15,000 for the year. what is the revenue an the net income.

Accounting question?? help any accountants out there???
A = L + C


$400,000 = $250,000 + $100,000 + net income - drawings


$400,000 - $100,000 - 250,000 + 15,000 = $65,000





However, revenue cannot be calculated because you have no information on the amount of expenses.
Reply:net income = total assets (400,000) + drawing (15,000) - investment (100,000) - liabilities (250,000) = 65,000



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