Financial statement information about four differ- Alpha Beta Psi Omega Company Company Company Company January 1, 2020 $ 80,000 $ 90,000 (3) 80,000 Assets $150,000 Liabilities 41,000 (a) (d) 40,000 () 90,000 Owner's equity 49,000 December 31, 2020 Assets (b) 60,000 112,000 72,000 170,000 (k) 100,000 Liabilities (h) Owner's equity Owner's equity changes in year Additional investment Drawings 50,000 (e) 82,000 151,000 15,000 (c) 15,000 8,000 (f) 410,000 10,000 12,000 (i) 10,000 500,000 Total revenues 350,000 Total expenses 333,000 385,000 350,000 (1) Instructions a. Determine the missing amounts. (Hint: For example, to solve for (a), Assets Liabilities = Owner's equity = $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 interrela- tionship of the owner's equity statement to the income statement and balance sheet.