Write a memorandum explaining the sequence for preparing financial statements and the interrelationship of the owner's equity statement to the income statement and balance sheet. Financial statement information about four different companies is as follows. Instructions Determine the missing amounts. (Hint: Assets = Liabilities + Owner's equity) Karma Yates McCain Dench Company Company Company Company January 1, 2010 Assets $95,459 $109,477 $ $171,374 Liabilities 50,175 73,060 Owner's equity 61,954 45,688 90,837 December 31, 2010 Assets 137,231 201,223 Liabilities 53,331 74,989 80,413 Owner's equity 58,340 129,335 169,864 Owner's equity changes in year Additional investment 15,168 13,474 15,489 Drawings 24,950 14,748 20,639 Total revenues 349,854 419,456 520,312 Total expenses 318,492 383,120 343,946