Liabilities+ Equity Assets Account. equation: Owner contribution Net income or - Net loss -Owner withdrawal = Capital, Ending Capital,Beginning + 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 loss during June 2018. (Use a minus sign or parentheses for a net loss.) a. The owner contributed $20,000 to the business and made no withdrawals. 4,000 Net income (loss) b. The owner made no contributions. The owner withdrew cash of $8,000. 32,000 Net income (loss) = $ c. The owner made contributions of $12,000 and withdrew cash of $22,000. Net income (loss) May 31, 2018 June 30, 2018 $ 133,000 $ Total Assets 202,000 Total Liabilities 77,000 122,000 Print Done EA