The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $57,775 on January 1, 2019, and $50,725 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses. Accounts
401 Sales $ 243,600 Cr.
451 Sales Returns and Allowances 4,150 Dr.
491 Miscellaneous Income 200 Cr.
501 Purchases 101,600 Dr.
502 Freight In 1,775 Dr.
503 Purchases Returns and Allowances 3,400 Cr.
504 Purchases Discounts 1,600 Cr.
611 Salaries Expense—Sales 43,300 Dr.
614 Store Supplies Expense 2,110 Dr.
617 Depreciation Expense—Store Equipment 1,310 Dr.
631 Rent Expense 11,500 Dr.
634 Utilities Expense 2,800 Dr.
637 Salaries Expense—Office 19,100 Dr.
640 Payroll Taxes Expense 4,000 Dr.
643 Depreciation Expense—Office Equipment 370 Dr.
646 Uncollectible Accounts Expense 520 Dr.
691 Interest Expense 340 Dr.
The worksheet of Bridget's Office Supplies contains the following owner’s equity accounts. No additional investments were made during the period.
Accounts
301 Bridget Swanson, Capital $
61,760
Cr.
302 Bridget Swanson, Drawing
41,200
Dr.
Net income for the year $48,875.
Prepare a statement of owner's equity for the year ended December 31, 2019.
BRIDGET'S OFFICE SUPPLIES
Statement of Owner's Equity
$0
$0