how do I find Liabilities?

assets = 48000
liabilities= ?


owner investment = 5000
net income (loss) = 7500
owner cash withdrawals= 2500




then how do I find net income (loss)?

assets= 41000
liabilities= 27500

owner investments= 1500
net income (loss)= ?
owner cash withdrawals= 3000

For the first part you first need to find owners equity. Take the owners investment plus net income minus owners withdrawals equals owners equity. Now take your asset minus owners equity to get your liabilities.

For the second part take your assets minus liabilities to get owners equity. Now take your owners equty minus owner investments plus your owners withdrawals to get your net income.