Exercise 2-15 Computing net income LO A1

A sole proprietorship had the following assets and liabilities at the beginning and end of this year. Assets Liabilities Beginning of the year $ 55,666 52?,355 End of the year 122,880 49,410 [ 3. Owner made no investments in the business, and no withdrawals were made during the year. b. Owner made no investments in the business, but withdrew $1,300 cash per month for personal use. 1:. Owner made no withdrawals during the year, but the owner did invest an additional $45,000 cash. d. Owner withdrew $1,300 cash per month for personal use, and the owner invested an additional $35,000 cash. Determine net income or net loss for the business during the year for each of the above separate cases [Decreases in equity should be indicated with a minus sign.) Beginning of the yearEquity Owner investments Withdrawals by owner Net income {loss} End of the yearEquity