An alphabetical list of Pharoahs Company adjusted accounts at its fiscal year end, August 31, 2021, follows. All accounts have normal balances.

Accounts payable		$15,560		Notes payable		$42,000
Accumulated depreciationequipment		14,000		Prepaid insurance		575
Accumulated depreciationfurniture		17,500		R. Smistad, capital		65,750
Cash		15,940		R. Smistad, drawings		79,000
Cost of goods sold		272,300		Rent expense		24,200
Depreciation expense		7,090		Salaries expense		50,000
Equipment		35,000		Salaries payable		2,250
Furniture		42,000		Sales		466,000
Insurance expense		3,575		Sales returns and allowances		16,300
Interest expense		2,180		Supplies		950
Interest payable		525		Supplies expense		6,325
Merchandise inventory		70,750		Unearned revenue		2,600

Additional information: 1. Of the notes payable, $6,800 becomes due on February 17, 2022. The balance is due in 2023. 2. On July 18, 2021, R. Smistad invested $4,000 cash in the business.

Prepare a statement of owner's equity. PHAROAH COMPANY Statement of Owner's Equity For the Year Ended August 31, 2021 R. Smistad, Capital, August 31, 2021 $ 65,750 Add $ $ 84030 Less Drawings R.Smistad, Capital, September 1, 2020 $ $