Statement of Owners' Equity 2. Prepare a statement of owner's equity. If an amount is zero, enter "0". TJ's Paint Service Statement of Owner's Equity For Month Ended July 31, 20-- TJ Ulza, capital, July 1, 20-- Investments during July Total investment Net income for July Less withdrawals for July Increase in capital TJ Ulza, capital, July 31, 20-- QO x X Balance Sheet 3. Prepare a balance sheet. Cash Assets Accounts receivable Supplies TJ's Paint Service Balance Sheet July 31, 20-- Liabilities Accounts payable Feedback Paint equipment Total assets Check york The second statement that would be created is the statement of owner's Feedback Owner's Equity TJ Ulza, capital Total liabilities & owner's equity x The following trial balance is taken after one month of operation. TJ's Paint Service Trial Balance July 31, 20 -- DEBIT CREDIT Account Title ACCOUNT NO. BALANCE BALANCE Cash 101 4,341 Accounts Receivable. 122 1,150 Supplies 141 785 Paint Equipment 183 850 Accounts Payable 202 2,189 TJ Ulza, Capital 311 3,107 TJ Ulza, Drawing 312 514 Painting Fees 401 3,608 Wages Expense 511 862 Rent Expense 521 206 Phone Expense 525 45 Transportation Expense. 526 53 Utilities Expense 533 74 Miscellaneous Expense 549 24 8,904 8,904