Computation of Total Assets:

Total Assets = Current Assets + Non-Current Assets

Here,

Current Assets = Cash + Accounts Receivables = $4500+$13500 = $18,000

Non-current Assets = Equipment = $29,000

Total Assets = $18,000+$29,000 = $47,000

Computation of Net Income:

Net Income = Total Revenue - Total Expenses

Here,

Total Revenue = Service Revenue = $51,500

Total Expenses = Salaries and Wages Expenses + Advertising Expenses + Rent Expenses = $16,500+$6,000+$10,500 = $33,000

Net Income = $51,500 - $33,000 = $18,500