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Prepare a statement of owner equity for month ended April

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Reference no: EM132793217

Problem - Financial information related to Udder Products Company, a proprietorship, for the month ended April 30, 2019, is as follows:

Net income for April $166,000

Mark Kominksy's withdrawals during April 25,000

Mark Kominksy's capital, April 1, 2019 384,500

a. Prepare a statement of owner's equity for the month ended April 30, 2019.

b. Why is the statement of owner's equity prepared before the April 30, 2019, balance sheet?

Reference no: EM132793217

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