Judy Flint owns and operates Derby Advertising Services. On January 1, 20Y3, Judy Flint, Capital had a balance of $267,250. During the year, Judy invested an additional $13,400 and withdrew $93,500. For the year ended December 31, 20Y3, Derby Advertising Services reported a net income of $73,900. Prepare a statement of owner's equity for the year ended December 31, 20Y3. Use the minus sign to indicate negative values. Derby Advertising ServicesStatement of Owner's EquityFor the Year Ended December 31, 20Y3     $Judy Flint, capital, January 1, 20Y3   $Additional investment during 20Y3     Net income     Withdrawals       Decrease in owner's equity     $Judy Flint, capital, December 31, 20Y3

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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