Darell HairStylists's adjusted trial balance and income statement follow. PrepareDarell's statement ofowner's equity for the year ended December 3131, 2018. Assume the owner made no contributions during the year.

Prepare the statement ofowner's equity. Enter any increases in capital prior to the subtotal and any decreases to capital below the subtotal. (Exclude anyzero-balance events for the period from the statement ofowner's equity.)

Darell Hair Stylists

Adjusted Trial Balance

December 31, 2018

Balance

Account Title

Debit

Credit

Cash $500

Accounts Receivable 1,200

Office Supplies 1,000

Equipment 19,700

Accumulated DepreciationEquipment $2,500

Accounts Payable 700

Interest Payable 700

Notes Payable 4,000

Darell, Capital 10,100

Darell, Withdrawals 900

Service Revenue 16,200

Rent Expense 5,500

Supplies Expense 800

Depreciation ExpenseEquipment 2,500

Interest Expense 2,100

Total $34,200 $34,200

Darell Hair Stylists

Income Statement

Year Ended December 31, 2018

Revenues:

Service Revenue $16,200

Expenses:

Rent Expense $5,500

Interest Expense 2,100

Depreciation ExpenseEquipment 2,500

Supplies Expense 800

Total Expenses 10,900

Net Income (Loss) $5,300