Statement of Owner's Equity; Net Loss Selected accounts from the ledger of Masterpiece Arts for the fiscal year ended April 30, 2012, are as follows: April 30 April 30 Angelo Phelps, Capital 7,200 May 1 (20Y1) 58,100 427,600 Prepare a statement of owner's equity for the year. Masterpiece Arts Statement of Owner's Equity For the Year Ended April 30, 2012 Angelo Phelps, capital, May 1, 20Y1 Net loss Withdrawals Decrease in owner's equity Angelo Phelps, capital, April 30, 2012 427,600 50,900 X Angelo Phelps, Drawing July 31 1,800 April 30 7,200 Oct. 31 1,800 Jan. 31 1,800 April 30 1,800 1,800 X 7,200 X