From the following information, journalize the last two closing P.0.4 entries, and present a statement of owner’s equity for Reece Company:

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T. H. Reece, Capital Income Summary + Dec. 31 Adj. 192,000 Dec. 31 Adj. 204,000 Jan. 1 Bal. Apr. 7 440,000 16,000 Dec. 31 Closing 410,000 Dec. 31 Closing 490,000 T. H. Reece, Drawing + Mar. 1 Dec. 9 32,000 37,000