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Prepare yearend statement of owner equity for Armani Company

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Reference no: EM132558623

Question - As of December 31, 2017, Armani Company's financial records show the following items and amounts.

Cash $11,900

Accounts receivable 10,900

Supplies 7,900

Equipment 6,900

Accounts payable 15,700

Common stock 14,000

Retained earnings, Dec. 31, 2016 5,900

Retained earnings, Dec. 31, 2017 7,900

Dividends 14,900

Consulting revenue 36,800

Rental revenue 25,800

Salaries expense 21,900

Rent expense 13,900

Selling and administrative expenses 9,900

Required - Prepare a yearend statement of owner's equity for Armani Company.

Reference no: EM132558623

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