Response to the following problem:
Torchwood Enterprises had a capital balance of $168,000 at the beginning of the period. At the end of the accounting period, the capital balance was $198,000.
(a) Assuming no additional investment or withdrawals during the period, what is the net income for the period?
(b) Assuming an additional investment of $13,000 but no withdrawals during the period, what is the net income for the period?