Examlex
Solve the system of equations below using Gaussian elimination.
Liabilities
Economic obligations or debts that an entity is required to pay to another party.
Owner's Equity
The net assets belonging to shareholders or owners of an entity after liabilities are accounted for, denoting their ownership claim.
Net Income
The company's net income, which is the remainder after deducting all expenses, taxes, and costs from the gross revenue.
Drawings
The act of the business owner taking out money or assets from the enterprise for private use.
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