Jarvis began operations on January 1, Year 1. Jarvis made an owner investment of $10,000 early in Year 1. There have been no additional owner investments. In its first two years of operations, it reported the following at its December 31 year-end. Prepare the statement of owner’s equity for

(a) Year 1

(b) Year 2.

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Net income Jarvis, Withdrawals Year 1 $30,000 $ 8,000 Year 2 $50,000 $14,000