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Great City Builders' balance sheet data at May 31, 2016, and June 30, 2016. follow Click the icon to view the balance sheet data) For each of the following situations with regard to owner's contrbutions and withdrawals of the business, compute the amount of net income or net loss during June 2016. The owner contributed $25.000 to the business and made no withdrawal b. The owner made no contributions. The owner withdrew cash of $3,000. c. The owner made contributions of $18.000 and withdrew cash of $24,000 Begin by identifying the accounting equation and the formula expressed by the statement of owner's equly (heeguilty equations (Abbreviation used. Account Accounting ) Account equation - Equity equation For each of the following stations with regard to owner's combustions and withdrawals of the business, compute the amount of net income or not tous during June 2016. (Un a minun siger parentes for a nation) a. The owner contributed $25.000 to se business and made no withdrawal Net income (los) b. The owner made no contributions. The owner withdrew cash of 53,000 Net income (low e. The owner mate contributions of $18.000 and Window cast of $24,000 Net Income (o)-50 May 31, 2016 June 30, 2016 Total assets $ 199,000 $ 245,000 Total liabilities 144,000 166,000

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