The records of Meehan Company show the following at December 31, 2014: Requirements 1. Compute the missing amount for Meehan Company. You will need to work through total owner's equity. 2. Did Meehan earn a net income or suffer a net loss for the year? Compute the amount. Requirement 1. Compute the missing amount for Meehan Company. You will need to work through total owner's equity. Begin by working through total owner's equity. Rework the accounting equation and then solve for owner's equity ("equity") at the beginning and end of the period. Identify the formula to show the change in equity and then complete the calculation to solve for the missing expenses for the period. (Enter a "0" for any zero balances. Contributions = Owner contributions: Withdrawals = Owner withdrawals.) Requirement 2. Did Meehan earn a net income or suffer a net loss for the year? Compute the amount. Identify the formula and then solve for Meehan's net income or loss for the period. (Use a minus sign or parentheses for a loss.)