Sam's Office Supplies' balance sheet data at May 31, 2016, and June 30, 2016, follow: (Click the icon to view the batance sheet data) 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 2016 a. The owner contributed $12,000 to the business and made no withdrawals. b. The owner made no contributions. The owner withdrew cash of $11,000 c. The owner made contributions of $15,000 and withdrew cash of $8,000. Begin by identifying the accounting equation and the formula expressed by the statement of owner's equity (the "equity equation") (Abbreviation used Account = Accounting.) Account equation: 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 2016. (Use a minus sign or parentheses for a net loss.) a. The owner contributed $12,000 to the business and mado no withdrawals. Net income (loss) - $0 b. The owner made no contributions. The owner withdrew cash of $11,000 Net income (loss) = $) c. The owner made contributions of S15,000 and withdrew cash of $8,000. Net income (1088) = $() Sam's Office Supplies' balance sheet data at May 31, 2016, and June 30, 2016, follow: (Click the icon to view the batance sheet data) 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 2016 a. The owner contributed $12,000 to the business and made no withdrawals. b. The owner made no contributions. The owner withdrew cash of $11,000 c. The owner made contributions of $15,000 and withdrew cash of $8,000. Begin by identifying the accounting equation and the formula expressed by the statement of owner's equity (the "equity equation") (Abbreviation used Account = Accounting.) Account equation: 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 2016. (Use a minus sign or parentheses for a net loss.) a. The owner contributed $12,000 to the business and mado no withdrawals. Net income (loss) - $0 b. The owner made no contributions. The owner withdrew cash of $11,000 Net income (loss) = $) c. The owner made contributions of S15,000 and withdrew cash of $8,000. Net income (1088) = $()