The records of Felix Company show the following at December 31, 2024: Learning Objective 3 E-F:1-24 Using the accounting equation Assets & Liabilities: Equity: Beginning: Owner contribution $11,000 Assets $ 67,000 Owner withdrawal 8,000 Liabilities 11,000 Ending: Revenues Expenses 205,000 ? Assets $ 46,000 Liabilities 34,000 I CHAPTER 1 Requirements Accounting and the Business Environment Financial 1-37 1. Compute the missing amount for Felix Company. You will need to work through owner's equity. 2. Did Felix earn a net income or suffer a net loss for the year? Compute the amount.