Statement of Owner's Equity Jay Pembroke started a business. During the first month (April 20--), the following transactions occurred. a. Invested cash in business, $18,000. b. Bought office supplies for $4,600: $2,000 in cash and $2,600 on account. C. Paid one-year insurance premium, $1,200. d. Earned revenues totaling $3,300: $1,300 in cash and $2,000 on account. e. Paid cash on account to the company that supplied the office supplies in transaction (b), $2,300. f. Paid office rent for the month, $750. g. Withdrew cash for personal use, $100. The effect of each transaction is shown in the individual accounts of the expanded accounting equation. Assets Liabilities Owner's Equity (Amts. Owed) (Items Owned) (Owner's Investment) (Earnings) Cash + Accounts Receivable + Office Supplies Prepaid Insurance Accounts Payable + J. Pembroke, Capital J. Pembroke, Drawing + Revenues - Expenses Description a. 18,000 18,000 b. (2,000) 4,600 2,600 C. (1,200) 1,200 d. 1,300 2,000 3,300 Service fees e. (2,300) (2,300) (750) f. 750 Rent expense g. (100) 100 Bal. 12,950 2,000 4,600 1,200 300 18,000 100 3,300 750 750 The income statement for Jay Pembroke for the month ended April 30, 20-- is shown. Jay Pembroke Income Statement For Month Ended April 30, 20-- Revenues: Service fees $3,300 Expenses: Rent expense Net income $2,550 Required: Use the information to prepare a statement of owner's equity for Jay Pembroke for the month of April 20--- Jay Pembroke Statement of Owner's Equity For Month Ended April 30, 20-- Jay Pembroke, capital, April 1, 20-- Investment during April 0 18,000 Total investment 18,000 0