Question: Can anyone help with these two problems? (looking to understand the steps) Thank you. Beginning of Year: Assets = $27,000 Liabilities = $17,000 End of

Can anyone help with these two problems? (looking to understand the steps) Thank you.

Beginning of Year:

Assets = $27,000

Liabilities = $17,000

End of Year:

Assets = $61,000

Liabilities = $27,000

4) If net income is $1,200 and owner withdrawals are $5,500, how much did the owner contribute (owner, capital)?

5) If the owner contributes $17,100 and net income is $18,700, how much did the owner withdraw (owner, withdrawals)?

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