The following information has been gathered from the accounting records of Pets

The following information has been gathered from the accounting records of Pets Parlour:Assets and liabilities at 31 December Year 4Cash at bank500Borrowings6000Trade receivables (debtors)5000Property plant and equipment29000Revenue and expenses for the year ended 31 December Year 4Fees charged for work done20000Interest paid on borrowings1000Administration costs incurred1500Salaries paid to employees14000RequiredUsing the accounting equation calculate:(a) The amount of ownership interest at 31 December Year 4.(b) The amount of net profit for the year.(c) The amount of the ownership interest at 1 January Year 4.