Prepare a statement of owners equity for 2017. Monty Perez withdrew 16,770 cash for personal use during the year. (Drawings are recorded directly to the owners capital account)

DECEMBER 31, 2017 Debit $29,500 52,700 Credit Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Owner's Capital Service Revenue Rent Expense (13 months of rent) Salaries and Wages Expense $701 2,000 1,680 26,300 6,575 7,200 34,581 107,476 9,113 32,990 1,640 610 Utilities Expenses Office Expense Totals $156,533 $156,533 1. Fees received in advance from clients s6,340, which were recorded as revenue. 2. Services performed for clients that were not recorded by December 31, $4,790. 3. Bad debt expense for the year is $1,371