Owners’ equity = Contributed capital + Retained earnings
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3.2. Accounting Equations entity, but the equation remains the same. Owners’ equity at a given date can be further classified by its origin: capital contributed by owners, and earnings retained in the business up to that date:4
Equation (2)
<span>Owners’ equity = Contributed capital + Retained earnings
The income statement presents the performance of a business for a specific period of time. The equation reflected in the income statement is the following:
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