The Statement of Owner’s Equity is a financial document that shows the changes in a business’s equity over a given period of time. It’s used by business owners and investors to get an understanding of how the business has performed during that period, as well as how much money the owner has in equity at any given time. This document helps business owners and investors to not only assess their current financial situation but also identify potential risks and opportunities for improvement. The statement provides clarity on how much money the business has earned from its operations, which can then be reinvested back into the company or held as capital to fund further growth.