Matsumoto Training Academies is a sole proprietorship. To start the business, the owner, Mr. Tanaka, contributed $500,000 cash. During the year the owner withdrew $30,000 cash. Net income for the year was $45,000.

Galaxy Robotics is a partnership with two partners. To start the business, the owners, Mrs. Curtis and Mr. Wilson, each contributed $300,000 cash and agreed to split all earnings 50/50. During the year, Mrs. Curtis withdrew $15,000 cash and Mr. Wilson withdrew $25,000 cash. Net income for the year was $60,000.

Required:

1. Create the statement of owners’ equity for Matsumoto Training at the end of the year.

2. Create the statement of owners’ equity for Galaxy Robotics at the end of the year.