The following financial information belongs to Al Ain Company on December 31, 2020:
Accounts
Accounts
Al Ain, Capital
$2,000,000 Equipment
$3,200,000
Supplies
1,200,000 Revenues
10,000,000
Salaries expense
2,000,000 Rent expense
1,600,000
Advertising expense
400,000 Cash
6,000,000
Accounts payable
4,400,000 Al Ain, Drawings
400,000
Accounts receivable
1,200,000 Utilities expense
400,000
Required: Use the above information to calculate the net income, ending capital, and total assets of Al Ain Company for
the year ended 31 December 2020.