PERFORMANCE TASK: The following balances were retrieved from the records of Juan's Janitorial Services for the year ended December 31, 2020: Capital, January 1, 2020 P 500,000 Withdrawals 100,000 Additional Investments 50,000 Net Loss 45,000 Required: Prepare the Statement of Changes in Equity Suggested J. Additional activities for application or remediation Answer the following questions: 1. Beginning owner's equity amounted to P 300,000. Net loss for the year totaled P 45,000. No additional investments and withdrawals for the period. Compute for total increase in equity for the year. 2. Ending owner's equity amounted to P70,000. Additional investments during the year amounted to P30,000. Withdrawals totaled P50,000. Compute for the company's net income for the year assuming beginning equity is P10,000