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. Assets Liabilities Beginning of Year: $29,000 $18,000 End of Year: $64,000 $26,000 1) What is the equity at the beginning of the year? Beginning Equity 11,000 2) What is the equity at the end of the year? Ending Equity 38,000 ? HINT 3) If the owner contributes $6,400 and the owner withdraws $44,500, how much is net income (loss)? Net Income (Loss) 4) If net income is $2,700 and owner withdrawals are $9,700, how much did the owner contribute (owner, capital)? Owner, Capital 5) If the owner contributes $17,200 and net income is $16,100, how much did the owner withdraw (owner, withdrawals)? Owner, Withdrawals 6) If the owner contributes $44,900 and the owner withdraws $2,700, how much is net income (loss)? Net Income (Loss)