During 2024 Tranquil Waters Spa reported revenue of $25.000 Total expenses for the year were $22.000 Tranquil Waters Spa ended the year with totales of $21000, and towed debts tog 3900 year business reported total assets of $18,000 and total abilities of 59.000 Read the requirements Requirement 1. Compute Tranquil Waters Spa's net income for 2024 Begin by identifying the formula to calculate net income and then enter the amounts to solve for not income Revenues Expenses Net Income S 25 000 22.000 $ 3.000 Requirement 2. Did Tranquil Waters Spa's owner's equity increase or decrease during 20247 By how much Trangull Waters Spa's equity during the year by