Great City Builders' balance sheet data at May 31, 2024, and June 30, 2024, follow (Click the icon to view the balance sheet data) Read the requirement Begin by identifying the accounting equation and the formula expressed by the statement of owner's equity (the "equity equation"); Accounting equation: Assets Liabilities + Equity Equity equation: Capital, Beginning Owner contribution Net income or Not loss-Owner withdrawal Capital, Ending 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 2024 (Use a minus sign or parentheses for a net loss.) a. The owner contributed $12,500 to the business and made no withdrawals Net income (loss) is ext pages Calculator Clear all Check answer ers' balance sheet data at May 31, 2024, and June 30, 2024, follow: Con to view the balance sheet data eme Data table ifying May 31, 2024 Total Assets $ quati Total Liabilities 199,000 $ 122,000 on: e follo minus June 30, 2024 equity (the 255,000 111,000 er withdraw ess, comp contrib Print Done oss) is Requirement For each of the following situations that occurred in June, 2024 with regard to owner contributions and owner withdrawals, compute the amount of net income or net loss during June 2024. a. The owner contributed $12,500 to the business and made no withdrawals. b. The owner made no contributions. The owner withdrew cash of $9,000. c. The owner made contributions of $10,000 and withdrew cash of $20,000. - X Print Done