The following T accounts show transactions that were recorded by Residential Relocators, a firm that specializes in local Housing rentals. The entries for the first transaction are labeled with the letter (a), the entries for the second transaction with the letter (b), and so on.

Cash(a)95,000(b)23,000(d)15,000(e)350(g)1,500(h)5,500(i)2,500Equipment(c)40,000Accounts Receivable(f)5,000(g)1,500Accounts Payable(c)40,000Supplies(b)23,000Scott Hamilton, Capital(a)95,000Fees Income(d)15,000(f)5,000Telephone Expense(e)350Scott Hamilton, Drawing(i)2,500Salaries Expense(h)5,500

Required: Prepare a statement of owners equity and a balance sheet for Residential Relocators as of December 31, 20X1.

Prepare a balance sheet for Residential Relocators as of December 31, 20X1.

RESIDENTIAL RELOCATORSBalance SheetDecember 31, 20X1AssetsLiabilitiesAccounts payableOwner's EquityTotal Assets$0Total Liabilities and Owner's Equity$0

Prepare a statement of owners equity and a balance sheet for Residential Relocators as of December 31, 20X1.

Prepare a statement of owners equity for Residential Relocators as of December 31, 20X1.

RESIDENTIAL RELOCATORSStatement of Owner's EquityMonth Ended December 31, 20X1Scott Hamilton, Capital, Dec. 1, 20X1$95,000Net income for DecemberLess: Withdrawals for December Increase in CapitalScott Hamilton, Capital, Dec. 31, 20X1$95,000