As of year-end, Moe's Kitchen Cleaning Service reported total liabilities amounting to ₱660,000 and a capital balance amounting to ₱500,000. Throughout the year, total assets were claimed to have increased by ₱125,000 and total liabilities by ₱190,000. Moe also made withdrawals for personal use amounting to ₱60,000.
Compute:
- Total assets at the beginning of the year
- Total liabilities at the beginning of the year
- Capital balance at the beginning of the year
- Net income during the year