Financial statement information about four different companies is as follows.

Instructions
a. Determine the missing amounts. (Hint: For example, to solve for (a), Assets – Liabilities = Owner’s equity = HK$39,000.)
b. Prepare the owner’s equity statement for Alpha Company.
c. Write a memorandum explaining the sequence for preparing financial statements and the interrelationship of the owner’s equity statement to the income statement and statement of financial position.

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Alpha Company Omega Company Beta Psi Company Company January 1, 2020 Assets HK$ (g) HK$ 80,000 HK$ 90,000 HK$150,000 80,000 Liabilities 41,000 (d) 40,000 (i) 90,000 Owner's equity (a) 49,000 December 31, 2020 Assets (b) 60,000 50,000 112,000 170,000 (k) Liabilities 72,000 (h) 100,000 151,000 Owner's equity Owner's equity changes in year (e) 82,000 8,000 Additional investment (c) 15,000 10,000 12,000 15,000 Drawings 10,000 (f) Total revenues 350,000 410,000 385,000 (i) 350,000 500,000 Total expenses 333,000 (1)