As of December 31 of the current year, Armani Company’s records show the following. Hint: The owner invested $2,700 cash during the year.

Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter15: Investments And Fair Value Accounting
Section: Chapter Questions
Problem 9E: Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The...
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As of December 31 of the current year, Armani Company’s records show the following. Hint: The owner invested $2,700 cash during the year.
 

Cash $ 11,700
Accounts receivable 10,700
Supplies 7,700
Equipment 6,700
Accounts payable 14,400
Armani, Capital, December 31, prior year 17,700
Armani, Capital, December 31, current year 22,400
Armani, Withdrawals 14,700
Consulting revenue 36,400
Rental revenue 25,400
Salaries expense 21,700
Rent expense 13,700
Selling and administrative expenses 9,700

 

Required:
Prepare the statement of owner's equity for Armani Company for the current year ended December 31.
 

 
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