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Daniel Hair Stylists’s adjusted trial balance and income statement follow. Prepare Daniel’s statement of owner’s equity for the year ended December 31, 2018. Assume the owner made no contributions during the year. Click on the icon to view the adjusted trial balance.) (Click on the icon to view the income statement.) Prepare the statement of owner’s equity. Enter any increases in capital prior to the subtotal and any decreases to capital below the subtotal. (Exclude any zero-balance events for the period from the statement of owner’s equity) Daniel Hair Stylists Statement of Owner’s Equity Year Ended December 31, 2018 Daniel, Capital, January 1, 2018 Net Income for the year Owner withdrawal Daniel, Capital, December 31, 2018 $ 16,700 Daniel Hair Stylists Income Statement Year Ended December 31, 2018 Revenues: Service Revenue Expenses: Rent Expense Interest Expense Depreciation Expense-Equipment Supplies Expense Total Expenses 5,100 1,400 2,400 1.200 Daniel Hair Stylists Adjusted Trial Balance December 31, 2018 Balance Account Title Debit Credit Cash S 700 Accounts Receivable 1,900 Office Supplies 400 Equipment 19.900 Accumulated Depreciation-Equipment 2.400 Accounts Payable Interest Payable Notes Payable 10,100 1,000 100 3.400 8.600 Net Income (Loss) 10.600 1.200 16,700 Daniel, Capital Daniel Withdrawals Service Revenue Rent Expense Supplies Expense Depreciation Expense Equipment Interest Expense 6.100 1.200 2,400 1,400 34,200 $ Total $ 34,200
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