For Pharoah Co., beginning capital balances on January 1, 2020, are Nancy Payne $18,900 and Ann Dody $17,100. During the year, drawings were Payne $8,500 and Dody $5,500. Net income was $29,700, and the partners share income equally. Prepare the partners' capital statement for the year. (List items that increase partners' capital first.) PHAROAH CO Partners' Capital Statement For the Year Ended December 31, 2020 Total N. Payne A. Dody Capital, January 1 Add Net Income/ (Loss) Less". Drawings Capital, December 31 Prepare the owners' equity section of the balance sheet at December 31, 2020. PHAROAH CO. Partial Balance Sheet Owners Equity N. Payne, Capital A. Dody, Capital