Activity 4.b - Using the Expanded Accounting Equation Using the expanded accounting equation, calculate and enter the answers for each y question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. HINT Beginning of Year End of Year Assets Liabilities 126000 $18,000 $62.000 $27,000 1) What is the equity at the beginning of the year? Beginning Equity 8,000 2) What is the equity at the end of the year? Ending Equity 35,000 3) If the owner contributes $9,000 and the owner withdraws $38,600, how much is net income (loss)? Net Income (Loss) 29.600 4) If net income is $2,500 and owner withdrawals are $9,900, how much did the owner contribute (owner, capital)? Owner, Capital 7,400