STEP 3: Green Farms also had records to develop their Statement of Owner Equity. Prepare the Owner Equity statement that they would need to present to the bank. Their beginning equity was $10,000 They recorded their Accrual Adjusted Net Income from the Income Statement Their off-farm income was $25,000 They inherited 30 acres of land valued at $3,800 per acre STATEMENT OF OWNER EQUITY BCDE Owner's Equity, Beginning of Period Accrual Adjusted. Net Income Owner's Withdrawals Non-Farm Income Other Capital Contributions/Gifts/Inheritances Addition to Retained Capital (Total B, C, D & E) Owner Equity, End of Year (Total A + F) A F