Statement of Owner's Equity
The revenues and expenses of Sentinel Travel Service for the year ended August 31, 2019, follow:
Fees earned $722,525Office expense 166,180Miscellaneous expense 14,450Wages expense 346,810
Prepare a statement of owner’s equity for the year ended August 31, 2019. Barb Schroeder, the owner, invested an additional $43,400 in the business during the year and withdrew cash of $27,500 for personal use. Barb Schroeder, capital as of September 1, 2018, was $195,000.