Exercise 2.10 (Algo) Preparing a statement of owner's equity and a balance sheet. LO 2-5

At the beginning of September, Helen Rojas started Rojas Wealth Management Consulting, a firm that offers financial planning and advice about investing and managing money. On September 30, the accounting records of the business showed the following information.

Cash	$	66,400
Accounts receivable		8,200
Office supplies		7,000
Office equipment		75,200
Accounts payable		11,600
Helen Rojas, Capital, September 1, 20X1		53,600
Fees income		156,000
Advertising expense		13,200
Salaries expense		32,200
Telephone expense		1,800
Withdrawals		17,200

Required:

Prepare a statement of owners equity for the month of September and a balance sheet for Rojas Wealth Management Consulting as of September 30, 20X1.