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Due to the sudden resignation of the accountant at Pharoah Flower Shop, the sales manager has prepared the annual financial statements, shown below: begin{tabular}{lr} multicolumn{2}{c}{
Due to the sudden resignation of the accountant at Pharoah Flower Shop, the sales manager has prepared the annual financial statements, shown below: \begin{tabular}{lr} \multicolumn{2}{c}{ PHAROAH FLOWER SHOP } \\ \multicolumn{2}{c}{ Statement of Changes in Equity } \\ For the Year Ended December 31 \\ Retained earnings, January 1 & $134,900 \\ Add: Net income & 35,400 \\ Retained earnings, December 31 & $170,300 \\ \hline \hline \end{tabular} Prepare corrected Statement of Income for Pharoah Flower Shop
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