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