The worksheet of Lantz's Office Supplies contains the following revenue, cost, and expense accounts. The merchandise inventory amounted to $$59,775$ on January $1,20$X$1,$ and $$52,725$ on December $31,20$X$1.$ The expense accounts numbered $611$ through $617$ represent selling expenses, and those numbered $631$ through $646$ represent general and administrative expenses.Accounts $401$ Sales$ $265,950$Credit$451$ Sales Returns and Allowances$4,350$Debit$491$ Miscellaneous Income$400$Credit$501$ Purchases$108,600$Debit$502$ Freight In$1,975$Debit$503$ Purchases Returns and Allowances$3,600$Credit$504$ Purchases Discounts$1,800$Credit$611$ Salaries ExpenseSales$45,300$Debit$614$ Store Supplies Expense$2,310$Debit$617$ Depreciation ExpenseStore Equipment$1,510$Debit$631$ Rent Expense$13,500$Debit$634$ Utilities Expense$6,200$Debit$637$ Salaries ExpenseOffice$21,100$Debit$640$ Payroll Taxes Expense$5,800$Debit$643$ Depreciation ExpenseOffice Equipment$570$Debit$646$ Uncollectible Accounts Expense$720$Debit$691$ Interest Expense$740$DebitThe worksheet of Lantz's Office Supplies contains the following owners equity accounts. No additional investments were made during the period.Accounts $301$ Terri Lantz, Capital$ $68,760$Credit$302$ Terri Lantz, Drawing$40,700$DebitNet income for the year $$52,025.$Prepare a statement of owner's equity for the year ended December $31,20$X$1.$