Reed was reviewing his business activities at the end of the year (February 28, 2019) and decided to prepare a Statement of Owner's Equity. At the beginning of the year, his assets were $500,000 and his liabilities were $150,000. At the end of the year the assets had grown to $950,000 but liabilities had also increased to $300,000. The profit for the year was $420,000. Harjot had withdrawn $120,000 during the year for his personal use. Prepare a Statement of Owner's Equity in good form.