Question: Ali Khalid owns and operates AAA Delivery Services. On January 1, 2007, Ali Khalid, Capital had a balance of $854,450. During the year, Ali made

Ali Khalid owns and operates AAA Delivery Services. On January 1, 2007, Ali Khalid, Capital had a balance of $854,450. During the year, Ali made no additional investments and withdrew $38,400. For the year ended December 31, 2007, AAA Delivery Services reported a net loss of $11,875. Prepare a statement of owner's equity for the year ended December 31, 2007.

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