A sole proprietorship had the following assets and liabilities at the beginning and end of this year.

	Assets	Liabilities
Beginning of the year	$ 75,000	$ 32,153
End of the year	121,500	49,208

1. Owner made no investments in the business, and no withdrawals were made during the year.
2. Owner made no investments in the business but withdrew $1,300 cash per month for personal use.
3. Owner made no withdrawals during the year but did invest an additional $45,000 cash.
4. Owner withdrew $1,300 cash per month for personal use and invested an additional $35,000 cash.

Determine the net income earned or net loss incurred by the business during the year for each of the above separate cases: (Decreases in equity should be indicated with a minus sign.)

	a.	b.	c.	d.
Beginning of the yearEquity		$ 0	$ 0	$. 0
Owner investments
Withdrawals by owner
Net income (loss)
End of the yearEquity		$ 0	$ 0	$ 0