The following information relates to Lily Co. for the year 2020. Owner's Capital, January 1, 2020 $65,600 Advertising expense $8,100 Drawings during 2020 7,300 Rent expense 10,100 Service revenue 66,500 Utilities expense 3,100 Salaries and wages expense 30,600 After analyzing the data, prepare an owner's equity statement for the year ending December 31, 2020. (List items that increase retained earnings first.)