How is net income for the year, increase in owners equity, and capital calculated?

The revenues and expenses of Sentinel Travel Service for the year ended August 31, 2019, follow: Fees earned Office expense Miscellaneous expense Wages expense $825,400 189,840 16,510 396,190 Prepare a statement of owner's equity for the year ended August 31, 2019. Barb Schroeder, the owner, invested an additional $49,500 in the business during the year and withdrew cash of $31,400 for personal use. Barb Schroeder, capital as of September 1, 2018, was $223,000. Sentinel Travel Service Statement of Owner's Equity For the Year Ended August 31, 2019 223,000 v Additional investment by owner during the year Net income for the year v 49,500 272,500 X 31,400 322,000 | 545,000X (P Next