Rolling Hill Interiors began the year with Hill, capital of $20,000. On July 12, Dana

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E3-27 Preparing the statement of owner’s equity [10-15 min]

Rolling Hill Interiors began the year with Hill, capital of $20,000. On July 12, Dana
Hill, the owner, invested $14,000 cash. The income statement for the year ended
December 31, 2012, reported net income of $63,000. During this fiscal year, Hill
withdrew cash of $6,000 each month.

Requirement

1. Prepare Rolling Hill Interiors’ statement of owner’s equity for the year ended
December 31, 2012.