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Prepare an owner's equity statement. (SO 8) E1-16 Presented below is information related to the sole proprietorship of Kevin Johnson, attorney. Legal service revenue-2010 $350,000

Prepare an owner's equity statement. (SO 8) E1-16 Presented below is information related to the sole proprietorship of Kevin Johnson, attorney. Legal service revenue-2010 $350,000 Total expenses-2010 211,000 Assets, January 1, 2010 85,000 Liabilities, January 1, 2010 62,000 Assets, December 31, 2010 168,000 Liabilities, December 31, 2010 85,000 Drawings2010 ? Instructions Prepare the 2010 owner's equity statement for Kevin Johnson's legal practice

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