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Net Income and Owner's Equity for Four Businesses Four different proprietorships, Aries, Gemini, Leo, and Pisces, show the same balance sheet data at the beginning

Net Income and Owner's Equity for Four Businesses Four different proprietorships, Aries, Gemini, Leo, and Pisces, show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of owner's equity, are summarized as follows: Total Assets Total Liabilities Beginning of the year $73,300 $29,300 End of the year $117,300 $49,300 On the basis of the above data and the following additional information for the year, determine the net income (or loss) of each company for the year. (Hint: First determine the amount of increase or decrease in owner's equity during the year.) Aries The owner had made no additional investments in the business and had made no withdrawals from the business. Gemini The owner had made no additional investments in the business but had withdrawn $5,000. Leo The owner had made an additional investment of $15,500 but had made no withdrawals. Pisces The owner had made an additional investment of $17,000 and had withdrawn $5,300. Enter all amounts as positive numbers. Aries Net Income $fill in the blank 2 24,000 Gemini Net Income $fill in the blank 4 Leo Net Income $fill in the blank 6 Pisces Net Income $fill in the blank 8

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