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: Equity equation: 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 la loss.) a. The owner contributed $25,000 to the business and made no withdrawals. Net income (loss) is b. The owner made no contributions. The owner withdrew cash of $3,000. Net income (loss) is Choose from any list or enter any number in the input fields and then continue to the next question.