Required: Prepare a statement of owner's equity for the year. No additional investments were made during the year. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. If a net loss has been incurred or there has been a decrease in owner's equity, enter that amount as a negative number using a minus sign. Statement of owner's equity Instructions Labels and Amount Descriptions Statement of Owner's Equity Statement of Owner's Equity Prepare a statement of owner's equity for the year. No additional investments were made during the year. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. If a net loss has been incurred or there has been a decrease in owner's equity, enter that amount as a negative number using a minus sign. Labels and Amount Descriptions Labels December 31, 20Y1 For the Year Ended December 31, 20Y1 Amount Descriptions Decrease in owner's equity Farhan Wasti, capital, December 31, 20Y1 Farhan Wasti, capital, January 1,20Y1 Increase in owner's equity Net income Net loss Withdrawals