Obenosky Travel Agency balance sheet data at May 31, 19X2 and June 30, 19X2

                                           May 31, 19X2     June 30, 19X2

 Total Asset…………………     150000                 195000

Total Liabilities…………..      109000                 131000

Required

Below are three assumptions about investments and withdrawals by the owner of the business during June. For each assumption, compute the amount of net income or net loss of the business during June19X2;

1. The owner invested 20000 in the business and made no withdrawals

2. The owner makes no additional investment in the business but withdrew $16000 for personal use

3. The owner invests 39000 in the business and withdrew 6000 for personal use