Question: Calculate missing information on a statement of changes in owner's equity that is being prepared for a hypothetical business. Statement of Changes in Owner's Equity

Calculate missing information on a statement of changes in owner's equity that is being prepared for a hypothetical business.
Statement of Changes
in Owner's Equity
Beginning Balance $35,000
Net Income ?
Drawings $4,000
Ending Balance $41,000
What is the total net income in the statement of changes in owner's equity that Seth drafted for his music store, shown here?
a.)
$37,000
b.)
$6,000
c.)
$10,000
d.)
$31,000

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