Proprietorship Accounting}

Dan Hawalchuk, proprietor, operated a financial counselling business that generated a profit of \(\$ 90,000\) for the year ended December 31, 2018. The proprietor's capital balance at December 31, 2017, was \(\$ 25,000\) and his drawings in 2018 were \(\$ 60,000\).

\section*{Required:}

Prepare a statement of proprietor's equity for the year ended December 31, 2018.

\section*{OBJECTIVE 6 Problem