The worksheet of Bridget's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $59,575 on January 1, 2019, and $52,525 on December 31, 2019. The expense accounts numbered 611 through 617 represent selling expenses, and those numbered 631 through 646 represent general and administrative expenses.

Accounts401Sales$247,500Cr.451Sales Returns and Allowances4,330Dr.491Miscellaneous Income380Cr.501Purchases103,400Dr.502Freight In1,955Dr.503Purchases Returns and Allowances3,580Cr.504Purchases Discounts1,780Cr.611Salaries ExpenseSales45,100Dr.614Store Supplies Expense2,290Dr.617Depreciation ExpenseStore Equipment1,490Dr.631Rent Expense13,300Dr.634Utilities Expense2,980Dr.637Salaries ExpenseOffice20,900Dr.640Payroll Taxes Expense5,800Dr.643Depreciation ExpenseOffice Equipment550Dr.646Uncollectible Accounts Expense700Dr.691Interest Expense700Dr.

The worksheet of Bridget's Office Supplies contains the following owner's equity accounts. No additional investments were made during the period.

Accounts301Bridget Swanson, Capital$63,560

Cr.302Bridget Swanson, Drawing40,600

Dr.

Net income for the year $42,695.

Prepare statement of owner's equity for the year ended December 31, 2019.