identify the formula to show the change in equity and then complete the calculation to solve for the missing expenses for the period

RE1-24 (similar to) Question Help The records of Smith Company show the following at December 31, 2018: E (Click the icon to view the data.) Requirements 1. Compute the missing amount for Smith Company. You will need to work through owner's equity. 2. Did Smith earn a net income or suffer a net loss for the year? Compute the amount Begin by working tnrougn owners equiny. Kework ne accountung equanon ana men sorve tor owner s equiny (equiry ar ne Deginning ana ena or tne penoa. Liabilities Assets Equity 64,000 33,000 31,000 Beginning 49,000 9,000 58,000 %24 24 Ending Identify the formula to show the change in equity and then complete the calculation to solve for the missing expenses for the period. (For accounts with a $0 balance, make sure to enter "" in the appropriate column. Abbreviations used Contributions = Owner contribution, Withdrawals = Owner withdrawal, Capital, Beg Capital, Beginning.) = Capital, Ending +] Choose from any list or enter any number in the input fieids and then click Check Answer. Check Answer Clear All part remaining search 3 of 7 (3 complete) v HW Score: 1 show the following at December 31, 2018 data O Data Table t for S e or su hing ana enc ers ec Assets & Liabilities: Equity: 18,000 Owner contribution Beginning: 16,000 $64.000 Owner withdrawal Assets 245,000 33,000 Revenues Liabilities (For accou Owner withc Expenses ne chan 0 in the Ending: $ 58.000 Assets 49,000 Liabilities Done Print er any n Che Clear All