Exercise 18 Determining profit LO6 Profit (loss), owner withdrawals, and owner investment cause equity to change. We also know that reweriues inss expentes kquals profit (loss). Using the following information, calculate profit (loss) for each independent situation a. The business earned revenues of $554,000 and had expenses of $511,000 Profit (loss), Owner withdrawals, and owner investment cause equity to change. We also know that revenues less expenses equals profit (loss). Using the following information, calculate profit (loss) for each independent situation. a. The business earned revenues of $554,000 and had expenses of $511,000