Presented below is information related to the sole proprietorship of Huan Feng attorney.

Legal service revenue 2014

$335,000

Total expenses 2014

211,000

Assets, January 1, 2014

96,000

Liabilities, January 1, 2014

62,000

Assets, December 31, 2014

168,000

Liabilities, December 31, 2014

100,000

Drawings 2014

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Instructions

Prepare the 2014 owner”s equity statement for Huan Feng”s legal practice.