As of December 31, 2017, Armani Companys financial records show the following items and amounts....
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Accounting
As of December 31, 2017, Armani Companys financial records show the following items and amounts.
| Cash | $ | 10,500 | ||
| Accounts receivable | 9,500 | |||
| Supplies | 6,500 | |||
| Equipment | 5,500 | |||
| Accounts payable | 10,500 | |||
| Common stock | 15,000 | |||
| Retained earnings, Dec. 31, 2016 | 4,500 | |||
| Retained earnings, Dec. 31, 2017 | 6,500 | |||
| Dividends | 13,500 | |||
| Consulting revenue | 34,000 | |||
| Rental revenue | 23,000 | |||
| Salaries expense | 20,500 | |||
| Rent expense | 12,500 | |||
| Selling and administrative expenses | 8,500 | |||
Required:
Prepare a yearend statement of owners equity for Armani Company.
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