As of December 31, 2017, Armani Company’s financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,000 9,000 6,000 5,000 23,000 4,000 7,000 13,000 33,000 22,000 20,000 12,000 8,000 Note: Early in 2017, the owner invested $1,000 cash in the business Required Prepare a year-end statement of owner’s equity for Armani Company. Hint Notice the owner invested $1,000 cash during the year ARMANI COMPANY Statement of Owner’s Equity For Year Ended December 31, 2017 A. Armani, Capital, December 31, 2016 A. Armani, Capital, December 31, 20117
