Gearbest pay the following expenses in cash for November: Calculate the chance in owner's equity. (Please note that decreases in owner's equity should be entered as a negative number). QUESTION 5 Nada's Surf Shop started the year with total assets of $440,000 and total liabilities of $240,000. During the year, the business recorded $440,000 in revenues, $340,000 in expenses, and Nada withdrew 551,000 . Calculate the net income reported by Nada's Surf Shop for the year