1 Exercise 8-3A (Algo) Effect of accounting events on the financial statements of a partnership LO 8-1 25 Faith Busby and Jeremy Beatty started the 940 partnership on January 1 Year 1 The business acquired $114.000 cash from Busby and $180,000 from Beatty, Ouring Year 1, the partnership camed $68.700 in cash revenues and paid $39.950 for cash expenses Busby withdrew $1.000 cash from the business, and Beatty withdrew $500 cash The net income was affocated to the account of the two partners in proportion to the amounts of their orginal investments in the busness Required Prepare an income statement, capital statement statement of changes in eauty, balance sheet and statement of cash flow for Year 1 fiscal year Complete this question by entering your answers in the tabs below. Prepare a balance sheet. (De not round intermediate calculators and mound your final as to the rarest whole tar BAB PARTNERSHIP Balance Sheet Cash Ruby Capt Beaty Capt and ty Help Check my work