For Pharoah Co. beginning capital balances on January 1, 2020, are Nancy Payne $23,300 and Ann Dody $22.500. During the year. drawings were Payne $7.600 and Dody $5,700. Net income was $31,800, and the partners share income equally (a) Prepare the partners' capital statement for the year. (List Items that increase partners capital first) eTextbook and Media Save for Laser PHAROAH CO. Partners' Capital Statement N. Payne $ Prepare the owners' equity section of the balance sheet at December 31, 2020. PHAROAH CO. Partial Balance Sheet $ Total A. Dody Attempts: 0 of 3 used Submit Answer