Terrell cmpany reported the following data at the end of its first year of operations on december $31.$ equipment.$\mathrm{.}25,500$ accounts payable..$\mathrm{.}14500$ owners investment..$\mathrm{.}29500$ terrell withdrawls..$\mathrm{.}12500$ services revenue..$\mathrm{.}70500$ rent revenue..$\mathrm{.}16500$ salaries expense..$\mathrm{.}44500$ advertising expense..$\mathrm{.}10500$ utilities expense..$\mathrm{.}8500$

a$.$prepare its year end income statement

b$.$ prepare its year end statement of owners equity using net income calculated in part A$.$ HINT terrell capital on january $1$ was $$0$