The VPCInn'S activities for 20X1 and 20X2 that affect the Ted Dichupa, Capital account are as follows:

20X120X2

Net income for the year$55,000$58,500

Withdrawls by Ted Dichupa$20,000$25,000

Investment by Ted Dichupa$-0-$10,000

In addition, the balance of the Ted Dichupa, Capital account on January 1, 20X1 was $52,500

Required:

1) Prepare a statement of owner's equity for VPC Inn for 2001

2) determine the balance of the Ted Dichupa capital account as of the end of 20X2