Beginning of Year:

Assets = $27,000

Liabilities = $17,000

End of Year:

Assets = $61,000

Liabilities = $27,000

1) If net income is $1,200 and owner withdrawals are $5,500, how much did the owner contribute (owner, capital)?

2) If the owner contributes $17,100 and net income is $18,700, how much did the owner withdraw (owner, withdrawals)?

3) If the owner contributes $43,200 and the owner withdraws $4,300, how much is net income (loss)?