STATEMENT OF OWNER'S EQUITY REPORTING NET INCOME Efran Lopez started a financial consulting service on June 1, 20--, by investing $15,000. His net income for the month was $6,000, and he withdrew $7,000 for personal use. Prepare a statement of owner's equity for the month of June. STATEMENT OF OWNER'S EQUITY REPORTING NET LOSS Based on the information provided in Exercise 2-6B, prepare a statement of owner's equity assuming Lopez had a net loss of $2,000. THE ACCOUNTING EQUATION Dr. Patricia Parsons is a dentist. As of January 31, Parsons owned the following property that related to her professional practice: Cash $3, 560 Office Equipment 4, 600 X-ray Equipment 8, 760 Laboratory Equipment 5, 940 She also owes the following business suppliers: Cupples Gas Company $1, 815 Swan Dental Lab 2, 790 From the preceding information, compute the accounting elements and enter them in the accounting equation as shown below