For National Co., beginning capital balances on January 1, 2014, are Nancy Payne $20,000 and Ann Dody $18,000. During the year, drawings were Payne $8,000 and Dody $5,000. Net income was $40,000, and the partners share income equally. Prepare the partners' capital statement for the year. (List items that increase partners' capital first.) Prepare the owners' equity section of the balance sheet at December 31, 2014