Acc280 Financial Accounting: BE3-10 The adjusted trial balance of Harmony Company

Acc280 Financial Accounting
BE3-10
The adjusted trial balance of Harmony Company at December 31, 2010, includes the following accounts:
S. Harmony, Capital $15,600; S. Harmony, Drawing $6,000; Service Revenue $35,400; Salaries Expense $16,000; Insurance Expense $2,000; Rent Expense $4,000; Supplies Expense $1,500; and Depreciation Expense $1,300. The balance in S. Harmony, Capital is the balance as of January 1.

Complete the owner's equity statement for the year assuming net income is $10,600 for the year.
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