Instructions Seth Feye established Reliance Financial Services on July 1, 2012. Reliance Financial Services offers financial planning advice to its clients. The effect of each transaction and the balances after each transaction for July follow: Assets + Owners Equity Liabilities + Seth -Seth Cash + Accounts Receivable Supplies + Accounts Faye, Payable Capital Drawing Feye, + Fees Earned Salaries Expense -Rent -Auto Expense Expense -Misc.) Supplies Expense Expense a +50,000 +50,000 b. +7,000 +7,000 Bal 50,000 7,000 7,000 50,000 2. Prepare a statement of owner's equity for the Month Ended July 31, 2012. Be sure to complete the statement heading. Refer to the lists of Accounts in the information given, Lab and Amount Descriptions for the exact wording of the answer choices for text entries. If required, use the minus sign to indicate any decreases in equity. If an amount is zero, enter