From the partial work sheet below, prepare a statement of owner's equity, assuming no additional investment was made by the owner.

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Major Advising Work Sheet (Partial) For Month Ended January 31,20 INCOME STATEMENT ACCOUNT TITLE 1 Cash 2 Accounts Receivable 3 Supplies 4 Prepaid Insurance 3 3 9 00 93 5 00 346 00 8 00 00 3 5 0000 Office Equipment 6 200006 Accum. Depr.-Office Equipment 7 Accounts Payable 8 00000 7 00008 10000 9 10 Wages Payable Ed Major, Capital 10 Ed Major, Drawing 11 Advising Fees 2 Wages Expense 13 Advertising Expense 14 Rent Expense 15 Supplies Expense 16 Phone Expense 17 Electricity Expense 18 Insurance Expense 19 Gas and Oil Expense 20 Depr. Expense- Office Equipment 21 Miscellaneous Expense 90000 41 4 0 00 7 0 0 00 9000 50000 150 00 6 7 00 12 13 14 15 16 17 18 19 4 8 00 8 9 00 5 3 00 200 00 2 3 00 21 9 2000 4 40 00 78 2000 560000 22 2 2 2000 23 140 00 1400 78 2 000 78 20 00 24 23 Net Income 2 2 2 0 00