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Show the partners capital statement for the year

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Reference no: EM132132874

Question - For Sunland Co., beginning capital balances on January 1, 2020, are Nancy Payne $18,900 and Ann Dody $24,000. During the year, drawings were Payne $8,700 and Dody $5,200. Net income was $28,700, and the partners share income equally.

Show the partners' capital statement for the year and show the owners' equity section of the balance sheet at December 31, 2020.

Reference no: EM132132874

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