Prepare an owner's equity statement for the year. The owner did not make any new investments during the year.

Salaries and wages payable

$$1,500$

Notes payable $($due after $2023)$

$$1,600$

Salaries and wages expense

$51,000$

Cash

$13,000$

Utilities expense

$22,000$

Accounts receivable

$9,000$

Equipment

$29,000$

Accumulated depreciation$$equipment

$5,500$

Accounts payable

$4,500$

Owner$$s drawings

$2,500$

Service revenue

$60,500$

Depreciation expense

$3,500$

Rent revenue

$8,000$

Owner$$s capital $($beginning of the year$)$

$48,400$