Response to the following questions:
1. Prepare a statement of owner's equity for The Lindal Clinic for the year ended December 31. P. Lindal's capital amount on January 1 was $124,000, and there was an additional investment of $7,000 on May 12 and withdrawals of $31,500 for the year. Net income for the year was $20,418.
2. What are real accounts? What are nominal accounts? Give examples of each.