Preparing the statement of owner’s equity Refer to the data in Exercise 14-5. JK’s ne...

Preparing the statement of owner’s equity

Refer to the data in Exercise 14-5. JK’s net income for 2010 was $3,800. Prepare the statement of owner’s equity for 2010.

Reference Exercise 14-5:

Preparing the multiple-step income statement

JK Products reports the following adjusted trial balance at December 31, 2010, the end of its first year of operations. Prepare a multiple-step income statement for the year ending December 31, 2010.