Exercise 12-6 For National Co., beginning capital balances on January 1, 2017, are Nancy Payne $24,000 and Ann Dody $20,300. During the year, drawings were Payne $8,400 and Dody $4,700. Net income was $25,700, and the partners share income equally. Prepare the partners' capital statement for the year. (List items that increase partners' capital first.) NATIONAL CO. Partners' Capital Statement N. Payne A. Dody Total LINK TO TEXT VIDEO: SIMILAR EXERCISE Prepare the owners' equity section of the balance sheet at December 31, 2017. NATIONAL CO. Partial Balance Sheet LINK TO TEXT VIDEO: SIMILAR EXERCISE