Alpha Beta Psi Omega Company Company Company Company January 1, 2017 Assets $ 80,000 $ 90,000 (g) $150,000 Liabilities 41,000 (d) 80,000 (j) Owners equity (a) 40,000 49,000 90,000 December 31, 2017 Assets (b) 112,000 170,000 (k) Liabilities 60,000 72,000 (h) 100,000 Owners equity 50,000 (e) 82,000 151,000 Owners equity changes in year Additional investment (c) 8,000 10,000 15,000 Drawings 15,000 (f) 12,000 10,000 Total revenues 350,000 410,000 (i) 500,000 Total expenses 333,000 385,000 350,000 (l) Instructions (a) Determine the missing amounts. (Hint: For example, to solve for (a), Assets 2 Liabilities 5 Owners equity 5 $39,000.) (b) Prepare the owners equity statement for Alpha Company. (c) Write a memorandum explaining the sequence for preparing fi nancial statements and the interrelationship of the owners equity statement to the income statement and balance sheet