Amoco Car RentalsAmocoCarRentals'balance sheet data at May31,20162016,and June30,20162016,follow: LOADING...(Clickthe icon to view the balance sheetdata.)For each of the following situations with regard toowner's contributions and withdrawals of thebusiness, compute the amount of net income or net loss during June 20162016.a. The owner contributed $ 5 comma 000$5,000to the business and made no withdrawals.b. The owner made no contributions. The owner withdrew cash of $ 2 comma 000$2,000.c. The owner made contributions of $ 9 comma 000$9,000and withdrew cash of $ 22 comma 000$22,000.

Begin by identifying the accounting equation and the formula expressed by the statement ofowner's equity(the "equityequation"):(Abbreviation used: Account.= Accounting.)

Account. equation:	=
Equity equation:	=