Statement of Owner's Equity Financial information related to Lost Trail Company, a proprietorship, for the month ended November 30, 2019, is as follows: Net income for November $86,510 Penny Beall's withdrawals during November 9,520 Penny Beall, capital, November 1, 2019 660,100 a. Prepare a statement of owner's equity for the month ended November 30, 2019. Lost Trail Company Statement of Owner's Equity For the Month Ended November 30, 2019 b. Why is the statement of owner's equity prepared before the November 30, 2019, balance sheet? account balance is The statement of owner's equity is prepared before the November 30, 2019, balance sheet because the needed for the balance sheet