Hannah Roberts owns and operates Hannah's Pool Service Company. On January 1, Hannah Roberts, Capital had a balance of $306,770. During the year, Hannah invested an additional $22,330 and withdrew $37,660. For the year ended December 31, Hannah's Pool Service Company reported a net income of $65,160. Prepare a statement of owner's equity for the year ended December 31.

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is