Homework: Chap 1 Practice Exercises (Optional - Not Graded) Score: 0.85 of 1 pt 7 of 15 (7 complete) S1-7 (book/static) Roland's Overhead Doors reports the following financial information: (Click the icon to view Roland's Overhead Doors financial information) Requirements 1. Use the accounting equation to solve for the missing information 2. Did Roland's Overhead Doors report net income or net loss for the year? Requirement 1. Use the accounting equation to solve for the missing information Assels Liables Owner's Capital Withdrawals $ 45,800 $ 17,220 + $ 27,460 6,500 Revenues Expenses $ 1230 S + $ 8,850 Requirement 2. Did Roland's Overhead Doors report net income or net loss for the year? Roland's Overhead Doors reports net income of $