E1-21 Using the accounting equation Green City Builders' balance sheet data at May 31, 2016, and June 30, 2016, follow: May 31, 2016 June 30, 2016 Total assets Total liabilities $188,000 122,000 $244,000 88,000 Learni ASSETS LIABI 188,000=132,0 244,000 = 88 56,000 34 22.000-REVE For each of the following situations with regard to owner's contributions and withdrawals of the business, compute the amount of net income or net loss during June 2016. a. The owner contributed $7,500 to the business and made no withdrawals. NET LOSS (38,5 b. The owner made no contributions. The owner withdrew cash of $13,000. NET LOSS (33,5 c. The owner made contributions of $20,000 and withdrew cash of $18,000.