Compute the missing amount for Jupiter Company: You will need to prepare a statement of owner's equity.

Did Jupiter earn a net income or suffer a net loss for the year? Compute the amount.

Jupiter Company Beginning: Assets Liabilities Ending: Assers $ 50.000 20.000 Liabilities Owner's Equity: Investments by owner Withdrawals by owner $ 70.000 30,000 S 0 45,000 Income Statement: Revenues Expenses $230,000