Serenity Systems Co. offers its services to residents in the Minneapolis area. Selected accounts from...
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Serenity Systems Co offers its services to residents in the Minneapolis area. Selected accounts from the ledger of Serenity Systems Co for the fiscal year ended December Y are as follows:Farhan Wasti, CapitalDec. Jan. YDec. Farhan Wasti, DrawingMar. Dec. June Sept. Dec. Required:Prepare a statement of owners equity for the year. No additional investments were made during the year. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. If a net loss has been incurred or there has been a decrease in owners equity, enter that amount as a negative number using a minus sign.LabelsDecember YFor the Year Ended December YAmount DescriptionsDecrease in owners equityFarhan Wasti, capital, December YFarhan Wasti, capital, January YIncrease in owners equityNet incomeNet lossWithdrawals
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