Exercise 13.4. The worksheet of Bridgets Office Supplies contains the following owners equity accounts. Use this data and the net income determined in Exercise 13.3 (IN CHART BELOW) to prepare a statement of owners equity for the year ended December 31, 2016. No Additional investments were made during the period.

Accounts:

301 Bridget Swanson, Capital $63,760 Cr.

302 Bridget Swanson, Drawing $40,700 Cr.

DATA FROM QUESTIONS 13.3 IS BELOW...

Bridgets Office Supplies Income Statement For the Year Ended December 31, 2016
Revenue from sales
Gross Sales			$248,900
Sales Returns and Allowances			$4,350
Net Sales				$244,550
Cost of Goods Sold
Merchandise Inventory; January 1, 2016			$59,775
Purchases		$103,600
Add: Freight In		$1,975
Cost of Merchandise Purchased		$105,575
Less: Purchase Discount	$1,800
Purchase returns and Allowances	$3,600	$5,400	$100,175
Goods available for sale			$159,950
Less: Merchandise inventory; December 31, 2016			$52,725
Cost of Goods Sold				$107,225
Gross Profit				$137,325
Operating Expenses:
Selling Expenses
Salaries Expense sales		$45,300
Store Supplies Expenses		$2,310
Depreciation Expense Store Equipment		$1,510
Total Selling Expenses			$49,120
General and Administrative Expenses:
Rent Expense		$13,500
Utilities Expense		$3,000
Salaries Expense Office		$21,100
Payroll Taxes Expense		$6,000
Depreciation Expense Office Equipment		$570
Uncollectable Accounts Expense		$720
Total General and Administrative Expense			$44,890
Total Operating Expenses				$94,010
Income from Operations				$43,315
Other Income
Miscellaneous Income			$400
Other Expenses
Interest Expense			$740
Net Non-Operating Expenses				$340
Net Income				$42,975