Presented below is information related to the sole proprietorship of Sergio Santos attorney.
|
Legal service revenue—2012 |
$335,000 |
|
Total expenses—2012 |
211,000 |
|
Assets, January 1, 2012 |
96,000 |
|
Liabilities, January 1, 2012 |
62,000 |
|
Assets, December 31, 2012 |
168,000 |
|
Liabilities, December 31, 2012 |
100,000 |
|
Drawings—2012 |
? |
Instructions
Prepare the 2012 owner’s equity statement for Sergio Santos’ legal practice.