I do not know what to enter for withdrawals, increase in owner's equity, and lan eisele, capital december 31, 2019. I was look at the data and i thought $42,000 is the withdrawal but it was in correct.

2. NORDIC TRAVEL AGENCY Statement of Owner's Equity For the Year Ended December 31, 2019 $ 670,000 $ 327,500 lan Eisele, capital, January 1, 2019 Net income for the year Withdrawals Increase in owner's equity lan Eisele, capital, December 31, 2019 1. Net income: $327,500 PR 1-2A Financial statements OBJ. 5 The amounts of the assets and liabilities of Nordic Travel Agency at December 31, 2019, the end of the year, and its revenue and expenses for the year follow. The capital of lan Eisele, owner, was $670,000 on January 1, 2019, the beginning of the year. During the year, Ian withdrew $42,000. Chapter 1 Introduction to Accounting and Business 45 Excel Show Me How Accounts payable $ 69,500 Rent expense $ 36,000 Accounts receivable 285,000 Supplies 5,500 Cash 190,500 Supplies expense 4,100 Fees earned 912,500 Utilities expense 28,500 Land 544,000 Wages expense 510,000 Miscellaneous expense 6,400 Instructions 1. Prepare an income statement for the year ended December 31, 2019. 2. Prepare a statement of owner's equity for the year ended December 31, 2019. 3. Prepare a balance sheet as of December 31, 2019. 4. What item appears on both the statement of owner's cquity and the balance sheet? PR 1-3A Financial statements OBJ. 5 V 1. Net income: $31,200 Seth Feye established Reliance Financial Services on July 1, 2019. Reliance Financial Services offers financial planning advice to its clients. The effect of each transaction and the balances after each transaction for July follow: Excel