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

Accounts Payable

$

33,200

Prepaid Rent

$

11,000

Accounts Receivable

60,800

Rent Expense

1,000

BeginningCapital

70,500

Service Revenue

64,400

Cash

58,100

Supplies

20,100

Deferred Revenue

13,200

Supplies Expense

1,000

Drawing

16,200

Utilities Expense

9,300

Entertainment Expense

3,800

Required:

Complete thestatement of owner's equitybelow.

Hint: First compute net income.

White Company

Statement of Owner's Equity

For Year Ended December 31

Beginning Capital

70,500

(Choose one)

Accounts Payable

Accounts Receivable

Cash

Consulting Revenue

Deferred Revenue

Drawing

Entertainment Expense

Net Income

Prepaid Rent

Rent Expense

Retained Earnings

Service Revenue

Supplies

Supplies Expense

Utilities Expense

Change in Equity

Ending Capital

$

70,500