A. It is the month of October and you want to check the balances of your equity accounts. The opening balance of the owner's capital is P500,000. Other financial data: a. Revenue was P555,200 and expenses were P490,700 for the year. b. The owner withdrew money amounting to P250,000 for his personal consumption. Required: 1. Prepare and present in good form a Statement of Changes in Equity for the year. B. The accountant for Franklin Company prepared the following list of account balances from the company's records for the year ended December 31, 2019: Fees earned Accounts receivable Equipment Accounts payable Salaries and wages payable Income taxes payable Notes payable Other assets P465,000 Cash 140,000 Selling expenses 164,000 Cost of services 70,000 Franklin, Capital Jan 1 55,000 Interest income 15,000 Prepaid rent 20,000 Other expenses 15,250 Rent expense P230,000 44,000 162,750 270,000 3,000 2,000 20,000 120,000 2. Prepare a Statement of Changes in Owner's Equity C. Yellow Company reported the following amounts at the end of its first year of operations: Contributed capital Total expenses Total assets Total liabilities P30,000 77,000 90,000 25,000 3. Calculate the total revenues earned by Yellow Company during its first year of operations