5 Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Assets Liabilities Beginning of Year: $25,000 $17,000 End of Year: $62,000 $28,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Beginning Equity 7000 Ending Equity 34000 3) If the owner contributes $6,400 and the owner withdraws $39,300, how much is net income (loss)? 4) If net income is $2,800 and owner withdrawals are $9,400, how much did the owner contribute (owner, capital)? Net Income (Loss) 59900 Owner, Capital 33600 5) If the owner contributes $19,500 and net income is $16,600, how much did the owner withdraw (owner, withdrawals)? 6) If the owner contributes $42,200 and the owner withdraws $3,500, how much is net income (loss)? Net Income (Loss) 11700 Owner, Withdrawals