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Deteremine the owners equity

Question: From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.

Spreadsheet

Accounts payable
$ 62,500

Accounts receivable
123,000

Buildings
418,500

Owners' equity, 1/1/06
210,000

Cash
179,750

Distributions to owners during 2006
21,750

Supplies
3,750

Land
130,000

Mortgage payable
479,500

Net income for 2006
124,750

Owners' equity, 12/31/06?

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