1. Compute the missing amount for Felix Company. You will need to work through owner's equity 2. Did Felix eam a net income or suffer a net loss for the year? Compute the amount. Requirement 1. Compute the missing amount for Felix Company. You will need to work through owner's equity Begin by working through owner's equity. Rework the accounting equation and then solve for owner's equity (equity) at the beginning and end of the period Assets Equity Beginning Ending PLOD I Any Slamper, MD. Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 6th For each transaction that follows the transaction on the 6th, calculate Do not enter any zeros for your transaction lines for transactions with the same date, be sure to enter each transaction on a separateline in the order presented in the prob a minus sign or parentheses. Abbreviations used. AP = Accounts Payable, Cap. = Stamper, Capital, Exp. Expense, Liab = Liabilities, Med. = Medical Rev. Revenue, Sal ASSETS EQUITY Cash + Med - Land AP Cap Withdt - Service Sal Rent U s Sup Rov. Exp. Exp. 776 LIAB July 6 Stamper contributed $68,000 in the business by opening a bank account in the name of A. Stamper, M.D. The business gave capital to Stamper 9 Paid $56,000 cash for land. 12 Purchased medical supplies for $1,500 on account 15 Officially opened for business. 20 Paid cash expenses: employees' salaries, $1,300; office rent, $1,500; utilities, $100. 31 Earned service revenue for the month, $13,000, receiving cash. 31 Paid $1,050 on account