Bob Electronics' balance sheet data at May 31, 2016, and June 30, 2016, tollow: Click the icon to view the balarnce sheet data.) For each of the following situations with regard to owner's contributions and withdrawals of the business, compute the amount of net income or net loss during June 2016. a. The owner contributed $15,000 to the business and made no withdrawals b. The owner made no contributions. The owner withdrew cash of $8,000 c. The owner made contributions of $35,000 and withdrew cash of $11,000 Begin by identifying the accounting equation and the formula expressed by the statement of owners equity (the 'equity equation: (Abbreviation used: Acoount.Aocounting.) Account. equaton: Equity equation: Capital, Beginning+ Owner contribution +Net income or Net loss Owner withdrawal Capital, Ending Choose from any drop-down list and then click Check Answer. Clear All Check Answer May 31, 2016 June 30, 2016 233,000 $ 263,000 Total assets 77,000 Total liabilities 166,000