Natalie is a professor but after many years she decided to quit her job and open a small business of her own and she named it Natalie's Healthy Foods, this happened on May 1, 2020. She had to invest $19,300 from her savings for her business. She also paid $6,350 cash in order to be able to build a small office/building where she could run the operations from. She also spent $730 on golf clubs, golf balls, and signs for her yard. Natalie then leased 4 acres of land for a cost of $1,140 per month and she paid the first month's rent in cash. In the first month, the costs for advetising were $715 of which $185 was not paid at the end of the month. Natalie also paid her three nieces $385 for retrieving golf balls for her. She deposited in the company's bank account all revenues from customers ($4,510). Then, on May 15, Natalie withdrew $730 in cash for her personal use. On May 31, the company got a utililty bill for $120 but did not pay it right away. On May 31, the balance in the company bank account was $13,945.

Natalie feels good about the outcome for her first month but her estimate of profitability ranges from a loss of $5,355 to a profit of $1,420

Prepare a balance sheet at May 31, 2020 (list assests in order of liquidity)

I have done most of it except for the last two.

Statement of Financial Position

At May 31,2020

Assets:

Cash $13,945

Equipment $730

Buildings $6,350

Total Assets $21,025

Liabilities and Equity:

Utilities Payable $120

Advertising Payable $185

Owner's Equity:

Owner's Capital ???

Total Liablities and Equity ???

*I need help figuring out the last two (Owner's Capital and Total liabilities and equity) Please clearly show how you got the numbers so I can follow the steps.