Activity 4,b - Using the Expanded Accounting Equation 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. 1) What is the equity at the beginning of the year? Beginning Equity 3) If the owner contributes $7,500 and the owner withdraws $38,900, how much is net income (loss)? Net Income (Loss) 5) If the owner contributes $18,400 and net income is $15,900, how much did the owner withdraw (owner, withdrawals)? Owner, Withdrawals 2) What is the equity at the end of the year? Ending Equity 4) If net income is $3,900 and owner withdrawals are $6,400, how much did the owner contribute (owner, capital)? Owner, Capital 6) If the owner contributes $43,600 and the owner withdraws $2,400, how much is net income (loss)? Net Income (Loss)