1 points 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. References Income Statement Capital Statement Balance Sheet Statement of Cash Flows Prepare an income statement for Jones' Year 1 fiscal year. MARLIN JONES SOLE PROPRIETORSHIP Income Statement For the Year Ended December 31, Year 1 $ Capital Statement > Check my work ces 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 capital statement (statement of changes in equity) for Jones' Year 1 fiscal year. MARLIN JONES SOLE PROPRIETORSHIP Capital Statement For the Year Ended December 31, Year 1 Beginning capital balance. Ending capital balance $ 0 Income Statement Balance Sheet > Check my work nts Book Hint eferences 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 Total assets Liabilities Equity Total liabilities and equity $ 0 $ Check my work 3 points 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 PROPRIETORSP Statement of Cash Flows For the Year Ended December 31, Year 1 elook Cash flows from operating activities: H References Net cash flow from operating activities Cash flows from investing activities: $ Net cash flow from investing activities $ Cash flows from financing activities: Net cash flow from financing activities Net change in cash Ending cash balance