P1.5A (LO 4,5) Writing Financial Statement Financial statement information about four differ- ent companies is as follows. Determine financial statement amounts and prepare owner's equity Statement Alpha Company Beta Company Psi Company Omega Company $ 80,000 41,000 (a) S 90,000 (d) 40.000 (g) 80,000 49,000 $150.000 (1) 90.000 January 1, 2020 Assets Liabilities Owner's equity December 31, 2020 Assets Liabilities Owner's equity Owner's equity changes in year Additional investment Drawings Total revenues Total expenses (b) 60,000 50,000 112.000 72.000 (e) 170,000 (h) 82,000 (k) 100,000 151.000 (c) 15,000 350,000 333,000 8.000 (1) 410,000 385.000 10,000 12,000 (1) 350,000 15.000 10.000 500.000 (1) Instructions a. Determine the missing amounts. (Hint: For example, to solve for (a). Assets -- Liabilities = Owner's equity = $39,000.) b. Prepare the owner's equity statement for Alpha Company. c. Write a memorandum explaining the sequence for preparing financial statements and the interrela- tionship of the owner's equity statement to the income statement and balance sheet