An alphabetical list of Pharoahs Company adjusted accounts at its fiscal year end, August 31, 2021, follows. All accounts have normal balances Accounts payable $15,580 Notes payable $42,000 Prepaid insurance 575 Accumulated depreciation-equipment Accumulated depreciation-furniture 14,000 17.500 25,600 R. Smistad, capital Cash R. Smistad, drawings 65,750 78,000 24,700 50,600 Cost of goods sold 271,700 Rent expense Depreciation expense Salaries expense 7.100 35,000 Equipment Salaries payable 2.250 Furniture 42,000 Sales 475,000 Insurance expense Sales returns and allowances 3,575 2.140 16,300 950 Interest expense Supplies Supplies expense Sul Interest payable 535 6,325 Merchandise inventory 70,650 Unearned revenue 2,600 Additions Additional information: 1. Of the notes payable. $6.900 becomes due on February 17, 2022. The balance is due in 2023. 2. On July 18, 2021, R. Smistad invested $4.500 cash in the business, Prepare a statement of owner's equity. PHAROAH COMPANY Statement of Owner's Equity