Here are the account balances for the dental practice of Ted Terner, DDS for 2013. Prepare an owners equity statement and a balance sheet for Ted Terner, DDS for December 31, 2013 (the accounting period is the year which begins on January 1st and ends December 31). You may need to do some additional computations to complete the task (it is not necessary to show the other financial statements).

Ted Terner, Capital, January 1, 2013	50,000
Accounts payable	45,500
Equipment	25,000
Service Revenue	21,000
Ted Terner, Drawings	11,000
Dental supplies expense	3,000
Cash	45,600
Utilities expense	500
Dental supplies	5,000
Salaries expense	7,900
Accounts receivable	14,500
Rent expense	4,000