What is the answer to this question? earson ACT-Sole Proprietorship Google Chrome|act.pearsoncmg.com/try-it/1AssetsLiabilitiesBeginning of Year:$28,000$18,000End of Year:$63,000$27,0001) What is the equity at the beginning of the year?2) What is the equity at the end of the year?Beginning Equity10,000Ending Equity36,0003) If the owner contributes $7,200 and the ownerwithdraws $37,800, how much is net income (loss)?4) If net income is $2,700 and owner withdrawalsare $8,400, how much did the owner contribute(owner, capital)?Net Income (Loss)Owner, Capital5) If the owner contributes $15,800 and net income is$16,400, how much did the owner withdraw (owner,6) If the owner contributes $44,400 and the ownerwithdraws $1,300, how much is net income (loss)?

Assets = Liabilities + Equity Change in Equity = Net Income + Contribution - Drawings

Assets Liabilities Beginning of Year: $28,000 $18,000 End of Year: $63,000 $27,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Beginning Equity 10,000 Ending Equity 36,000 3) If the owner contributes $7,200 and the owner 4) If net income is $2,700 and owner withdrawals are $8,400, how much did the owner contribute (owner, capital)? withdraws $37,800, how much is net income (loss)? Net Income (Loss) Owner, Capital 5) If the owner contributes $15,800 and net income is $16,400, how much did the owner withdraw (owner, 6) If the owner contributes $44,400 and the owner withdraws $1,300, how much is net income (loss)?