1 Book Hint brences A sole proprietorship was started on January 1, Year 1, when it received $60,000 cash from Marlin Jones, the owner. During Year 1, the company earned $35,300 in cash revenues and paid $16,200 in cash expenses. Jones withdrew $1,000 cash from the business during Year 1. Required Prepare an income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for Jones' Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Capital Statement Balance Sheet Statement of Cash Flows Prepare a statement of cash flows for Jones' Year 1 fiscal year. (Enter cash outflows with a minus sign.) MARLIN JONES SOLE PROPRIETORSHIP Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Receipts from revenues Paid for expenses Net cash flow from operating activities Cash flows from investing activities: $ 35,300 (16,200) $ 19,100 Net cash flow from investing activities Cash flows from financing activities: Paid for owner withdrawals $ 0 Income Statement Capital Statement Statement of Balance Sheet Cash Flows Prepare a statement of cash flows for Jones' Year 1 fiscal year. (Enter cash outfic MARLIN JONES SOLE PROPRIETORSHIP Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Receipts from revenues Paid for expenses Net cash flow from operating activities Cash flows from investing activities: Net cash flow from investing activities Cash flows from financing activities: Paid for owner withdrawals Investment by owner Net cash flow from financing activities Net change in cash Plus: Beginning cash balance Ending cash balance 35,300 (15.200) $ 19,100 $ 0 0 19,100 $ 19,100 Complete this question by entering your answers in the tabs below. Income Statement Capital Statement Balance Sheet Statement of Cash Flows Prepare a balance sheet for Jones' Year 1 fiscal year. MARLIN JONES SOLE PROPRIETORSHIP Balance Sheet As of December 31, Year 1 Assets Cash Total assets Liabilities Equity Jones, Capital $ 78,100 $ 78,100 78,100 Total liabilities and equity $ 78,100 < Capital Statement Statement of Cash Flows >