Instructions The revenues and expenses of Up-in-the-Air Travel Service for the year ended April 30, 2047, follow: Fees earned $1,870,000 Office expense 343,000 Miscellaneous expense 21,000 Wages expense 1,115,000 Prepare a statement of owner's equity for the year ended April 30, 2017. Jerome Foley, the owner, invested an additional $52,000 in the business during the year and withdrew cash of $34,000 for personal use. Jerome Foley, capital as of May 1, 2016, was $876,000. Be sure to complete the statement heading. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. If required, use the minus sign to indicate any decreases in equity. Labels and Amount Descriptions Labels For the Month Ended April 30, 2017 For the Year Ended April 30, 2047 Amount Descriptions Additional investment by owner during year Decrease in owner's equity Increase in owner's equity Withdrawals Net income for the year Net loss for the year Jerome Foley, capital, May 1, 20Y6 Jerome Foley, capital, April 30, 2047 Statement of Owner's Equity X Prepare a statement of owner's equity for the year ended April 30, 2017. Jerome Foley, the owner, invested an additional $52,000 in the business during the year and withdrew cash of $34,000 for personal use. Jerome Foley, capital as of May 1, 20Y6, was $876,000. Be sure to complete the statement heading. Refer to the lists of Accounts, Labels, and Amount Descriptions provided for the exact wording of the answer choices for text entries. If required, use the minus sign to indicate any decreases in equity. Up-in-the-Air Travel Service Statement of Owner's Equity Jerome Foley, capital, May 1, 20Y6 1 Jerome Foley, capital, May 1, 2046 $876,000.00 2 Additional investment by owner during year $52,000.00 3 Net income for the year 391,000.00 4 443,000.00 5 Withdrawals (34,000.00) 6 Jerome Foley, capital, April 30, 2047 $1,285,000.00