Data for Kennedy Realty are as follows: ?Total assets at January 1$100,000?Total liabilities at January 135,000?Total revenues for the year79,000?Total expenses for the year47,000???The owner, Finn Kennedy, withdrew a total of $30,000 for personal use during the year. Using the above data, prepare Kennedy Realty's Statement of Owner's Equity for the year ended December 31.
What will be an ideal response?
| ? | KENNEDY REALTY Statement of Owner's Equity For year Ended December 31 | ||
| ? | Finn Kennedy, Capital, January 1* | $ 65,000 | * |
| ? | Plus Net income | 32,000 | ? |
| ? | ? | $ 97,000 | ? |
| ? | Less Withdrawals by owner | (30,000 | ) |
| ? | Finn Kennedy, Capital, December 31 | $ 67,000 | ? |
| ? | ? | ? | ? |
| ? | *Total assets at January 1 | $100,000 | ? |
| ? | Less total liabilities at January 1 | 35,000 | ? |
| ? | Total owner's equity at January 1 | $ 65,000 | ? |
| ? | ? | ? |
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