During 2024, Whisper Creek Spa reported revenue of $65,000. Total expenses for the year were $56,000....

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During 2024, Whisper Creek Spa reported revenue of $65,000. Total expenses for the year were $56,000. Whisper Creek Spa ended the year with total assets of $32,000, and it owed debts totaling $11,500. At year-end 2023, the business reported total assets of $23,000 and total liabilities of $11,500. Read the requirements. Requirement 1. Compute Whisper Creek Spa's net income for 2024. Begin by identifying the formula to calculate net income and then enter the amounts to solve for net income. Revenues $ 65,000 $ Expenses 56,000 Net Income $ 9,000 Requirement 2. Did Whisper Creek Spa's owner's equity increase or decrease during 2024? By how much? Whisper Creek Spa's equity during the year by During 2024, Whisper Creek Spa reported revenue of $65,000. Total expenses for the year were $56,000. Whisper Creek Spa ended the year with total assets of $32,000, and it owed debts totaling $11,500. At year-end 2023, the business reported total assets of $23,000 and total liabilities of $11,500. Read the requirements. Requirement 1. Compute Whisper Creek Spa's net income for 2024. Begin by identifying the formula to calculate net income and then enter the amounts to solve for net income. Revenues $ 65,000 $ Expenses 56,000 Net Income $ 9,000 Requirement 2. Did Whisper Creek Spa's owner's equity increase or decrease during 2024? By how much? Whisper Creek Spa's equity during the year by