Homework: Chapter 1 Homework Score: 0.6 of 1 pt 1 3 of 4 (3 complete) %E1-21 (similar to) Alan Lightworks' balance sheet data at May 31, 2018, and June 30, 2018, 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 .Net loss. Owner withdrawat = Capital Ending For each of the following situations with regard to owner's contributions and withdrawals of me business, compute the amount of net income or net loss dunng June 2018 (Use a minus sign or parentheses for a net loss) a. The owner contibuted $25.000 to the business and made no withdrawals Net income foss) is $ 12.000 i Data Table x b. The owner made no contributions. The owner withdrew casn of $9 000 Net income dossis Total Assets Total Liabilities May 31, 2018 June 30, 2018 $ 188 000 $ 250 000 144 XIO 99 000 Print Done Enter any number in the edit fields and then click Check Answer 1 part remaining Clear All