Prepare an owner's equity statement for the year. BLUE FASHION CENTER Owner's Equity Statement The trial balance of Blue Fashion Center contained the following accounts at November 30, the end of the company's fiscal year. BLUE FASHION CENTER Trial Balance November 30, 2022 Debit Credit Cash $21,800 Accounts Receivable 29,500 Inventory 44,200 Supplies 6,200 Equipment 130,000 Accumulated Depreciation-Equipment $25,000 Notes Payable 50,000 Accounts Payable 57,900 Owner's Capital 90,500 Owner's Drawings 10,500 Sales Revenue 755,200 Sales Returns and Allowances 8,700 Cost of Goods Sold 497,000 Salaries and Wages Expense 139,700 Advertising Expense 24,500 Utilities Expense 14,000 Maintenance and Repairs Expense 11,800 Maintenance and Repairs Expense 11,800 Freight-out 16,800 Rent Expense 23,900 Totals $978,600 $978,600 Adjustment data: 1. Supplies on hand totaled $2,200. 2. Depreciation is $11,100 on the equipment. 3. Interest of $5,000 is accrued on notes payable at November 30. 4. Inventory actually on hand is $43,900. ales Sales Revenue Sales Returns and Allowances let Sales Cost of Goods Sold Gross Profit Operating Expenses Salaries and Wages Expense Income Statement For the Year Ended November 30, 2022 139700 Advertising Expense 24500 Utilities Expense 14000 Maintenance and Repairs Expense 11000 Freight-Out 16000 Rent Expense Depreciation Expense Supplies Expense 23900 11100 4000 755200 8700 746500 497300 249200 Started Wager Expense 119700 Advertising Expense 24500 Utilities Expeme 14000 Maintenance and Repairs Expense 11800 Freight Out Rent Expense Depreciation Expense Supplies Expeme otal Operating Expenses : ncome from Operations Other Expenses and Losses interest Expense Jet Income/(Loss) 16800 23900 11100 4000 245800 5000 3400 1600