Presented below is information related to the sole proprietorship of John Newman, attorney. Legal service revenue2012 $360,000

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Presented below is information related to the sole proprietorship of John Newman, attorney.

Legal service revenue—2012                 $360,000
Total expenses—2012                               211,000
Assets, January 1, 2012                             85,000
Liabilities, January 1, 2012                       62,000
Assets, December 31, 2012                      168,000
Liabilities, December 31, 2012                  70,000
Drawings—2012                                           ?

Instructions
Prepare the 2012 owner’s equity statement for John Newman’s legal practice.

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