S 4-14 (Static) Preparing a statement of owner's equity LO C1 J. Clancy owns Clancy Consulting. On December 31 of the prior year, the J. Clancy, Capital account balance was $20,000. During the current year, Clancy invests an additional $15,000 in assets, but withdrew $11,000 cash. Clancy Consulting reports net income of $32,000 for the current year. Prepare a statement of owner's equity for Clancy Consulting for the current year ended December 31. Answer is not complete. CLANCY CONSULTING Statement of Owner's Equity J. Clancy, Capital, December 31 prior year $ 20,000 Add: Investments by owner 15,000 Add: Net income 32,000 67,000 Less: Withdrawals by owner 11,000 J. Clancy, Capital, December 31 current year $ 56,000