Balancing the Expanded Accounting Equation 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. Assets Liabilities Beginning of Year: 529,000 $15,000 End of Year: $64,000 $28,000 3) If the owner contributes $5,900 and the owner withdraws $41,800, how much is net income (loss)? Net Income (Loss)