Activity 4.a - Calculating Net Income/Loss on Income Statement \& Balance Sheet/Statemen Owner's Equity For each scenario, calculate the net income/loss, identify if it is net income or loss, and finalize the totals for the Income Statement and Balance Sheet columns. Activity 4.a - Calculating Net Income/Loss on Income Statement \& Balance Sheet/Statemen Owner's Equity For each scenario, calculate the net income/loss, identify if it is net income or loss, and finalize the totals for the Income Statement and Balance Sheet columns