Homework: Chapter 1 Homework-graded Score: 1.2 of 3 pts E1-21 (similar to) Alan Wood Cabinets' balance sheet data at May 31, 2018, and June 30, 2018, follow: (Click the icon to view the balance sheet data.) Read the requirement. Save 3 of 4 (3 complete) HW Score: 52%, 5.2 of 10 pts Question Help 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 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 2018. (Use a minus sign or parentheses for a net loss.) a. The owner contributed $30,000 to the business and made no withdrawals. Net income (loss) is Enter any number in the edit fields and then click Check Answer. parts 2 remaining * Requirement For each of the following situations that occurred in June, 2018 with regard to owner's contributions and withdrawals, compute the amount of net income or net loss during June 2018. a. The owner contributed $30,000 to the business and made no withdrawals. b. The owner made no contributions. The owner withdrew cash of $12,000. c. The owner made contributions of $19,000 and withdrew cash of $13,000. Print Done Clear All Check Answer