10:58 HW 1 - Chapter 1.pdf - Read-only LO 3 LO 3 Statement of Owner's Equity E10B. ACCOUNTING CONNECTION of owner's equity for 2014 follows. Withdrawals Net income Owner's equity, January 31, 2014 Owner's equity, January 31, 2013 Information from Mrs. Clark's Cookies' statement $ 0 ? 159,490 105,000 Prepare Mrs. Clark's Cookies' statement of owner's equity. You will need to solve for the amount of net income. What is owner's equity? Why might the owner decide not to make any withdrawals from the company? Preparation and Integration of Financial Statements E11B. Complete the financial statements that follow by determining the amounts that correspond to the letters. (Assume no new investments by owners.) B Revenues Income Statement 0