Activity 4.b - Using the Expanded Accounting Equation 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. 1) What is the equity at the beginning of the year? Beginning Equity 3) If the owner contributes 55,400 and the owner withdraws $39,600, how much is net income (loss)? Net income (Loss) 5) If the owner contributes $17,500 and net income is $19,300, how much did the owner withdraw (owner, withdrawals)? Owner, Withdrawals 2) What is the equity at the end of the year? Ending Equity. 4) If net income is $2,500 and owner withdrawals are $7,500, how much did the owner contribute (owner, capital)? Owner, Capital 6) If the owner contributes $41,900 and the owner withdraws $2,700, how much is net income (loss)? Net income (Loss)