On December 31, Reed Co. had the following list of accounts and their respective annual balances.

Accounts Payable

$

27,800

Maintenance Expense

$

1,700

Accounts Receivable

26,800

Prepaid Rent

15,500

BeginningCapital

58,200

Rent Expense

10,000

Cash

59,400

Supplies

17,100

Consulting Revenue

52,800

Supplies Expense

6,000

Deferred Revenue

13,700

Utilities Expense

2,300

Drawing

13,700

Required:

Complete thestatement of owner's equitybelow.

Hint: First compute net income.

Reed Company

Statement of Owner's Equity

For Year Ended December 31

Beginning Capital

58,200

(Choose one)

Accounts Payable

Accounts Receivable

Cash

Consulting Revenue

Deferred Revenue

Drawing

Maintenance Expense

Net Income

Prepaid Rent

Rent Expense

Retained Earnings

Service Revenue

Supplies

Supplies Expense

Utilities Expense

Change in Equity

Ending Capital

$

58,200