arning a net insS.00 it Service borrowed $78,000 r cash. Also, Accounts Res by $11,7o0 inere ent rmine the amount of cash on hand at Decem t cash flows similar to the one in Exhibit 9 Deter wners Equity NG CONNECTION Information from Mirs. Shah 's o Statement of Own E10A. ACCOUNTING of owner's equity for 2014 follows. Withdrawals Net income Owner's equity, January 31, 2014 159,490 102,403 Owners equity, January 31, 2013 Mr. Shalh's Cookies' statement of owner's equity, You will mount of net income. What is owner's equity? Why might the owntose need to solve need Prepare Mrs owner decioe the e the amount make any wi drawals from the company? o3 Prepa ration and Integration of Financial Statements t follow by determining the pplete the financial statements tha correspond to the letters. (Assume no new i amounts letters. (Assume no new investments by owners.) Income Statement Revenues Expenses Net income $11,100 s (b $29,000 Statement of Owner's Equity Beginning balance Net income Less withdrawals 2,000 $30,000 Ending balance Balance Sheet Total assets Total liabilities Owner's equity (T. Proviso, capital) $16,000 Total liabilities and owner's equity