Jenny Rose, the sole proprietor of the photocopying business that opened October 1, 2018. For the quarter ended
December 30, 2018, the business was able to make revenues of ₱50,000 (all in cash) and it was able to incur expenses
of ₱35,000 (all in cash). As the end of the quarter, total liabilities amounted to ₱50,000. Jenny wants to know the business
total assets and total owner’s equity. With the help of his friend who is an accountant, he arrived at ₱75,000 total assets
and ₱25,000 total owner’s equity. Moreover, Jenny Rose had an investment of ₱45,000 cash and Equipment amounting
to ₱30,000