Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions.

Assets Liabilities

Beginning of Year: $$25,000$ $$18,000$

End of Year: $$64,000$ $$25,000$

$1)$ What is the equity at the beginning of the year?

Beginning Equity

$7000$

$2)$ What is the equity at the end of the year?

Ending Equity

$39000$

$3)$ If the owner contributes $$7,400$ and the owner withdraws $$41,900,$ how much is net income $($loss$)?$

Net Income $($Loss$)$

$4)$ If net income is $$1,300$ and owner withdrawals are $$7,600,$ how much did the owner contribute $($owner$,$ capital$)?$

Owner, Capital

$5)$ If the owner contributes $$15,600$ and net income is $$19,600,$ how much did the owner withdraw $($owner$,$ withdrawals$)?$

Owner, Withdrawals

$6)$ If the owner contributes $$44,400$ and the owner withdraws $$2,800,$ how much is net income $($loss$)?$

Net Income $($Loss$)$