looking for the net income of the year
Extracted text: Statement of Owner's Equity The revenues and expenses of Sentinel Travel Service for the year ended August 31, 2019, follow: Fees earned $827,390 Office expense 190,300 Miscellaneous expense 16,550 Wages expense 397,145 Prepare a statement of owner's equity for the year ended August 31, 2019. Barb Schroeder, the owner, invested an additional $49,600 in the business during the year and withdrew cash of $31,400 for personal use. Barb Schroeder, capital as of September 1, 2018, was $223,000. Sentinel Travel Service Statement of Owner's Equity For the Year Ended August 31, 2019 Barb Schroeder, capital, September 1, 2018 223,000 Additional investment by owner during the year $ 496,000 Net income for the year Withdrawals 31,400 Increase in owner's equity Barb Schroeder, capital, August 31, 2019