Case a: assume that the company is a sole proprietorship owned by proprietor a. prior to the closing entries, the capital account reflects a balance of $52,000 and the drawing account shows a balance of $9,000. case b: assume that the company is a partnership owned by partner a and partner b. prior to the closing entries, the owners’ equity accounts reflect the following balances: a, capital, $43,000; b, capital, $43,000; a, drawings, $5,000; and b, drawings, $7,000. profits and losses are divided equally. case c: assume that the company is a corporation.