11-2 Effect of accounting events on the financial statements of a sole proprietorship

A sole propiletorship was started on January 1, Year 1, when it received $70,500 cash from Marlin Jones, the owner. During Year 1 , the company earned $45,600 in cash revenues and paid $18.700 in cosh expenses. Jones withdrew $4.000 cash fram the business duing Year 1 Required Prepare an income statement capital statement (statement of changes in equity) balance sheet and statement of cash flows for Jones's Year ifiscal yeor Note: For Stetement of Cash Flows only, indicate amounts to be deducted and cash outfiows with a minus sign. \begin{tabular}{|l|} \hline \multicolumn{2}{|c|}{ MARLIN JONES SOLE PROPRIETORSHIP } \\ Capital Statement \\ For the Year Ended December 31, Year 1 \\ \hline Beginning capital balance \\ \hline \\ \hline \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ MARLIN JONES SOLE PROPRIETORSHIP } \\ \hline \multicolumn{1}{|c|}{ Balance Sheet } \\ \hline As of December 31, Year 1 \\ \hline \\ \hline \\ \hline Total assets & \\ \hline Liabilities & \\ \hline Equity & \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline \multicolumn{1}{|c|}{ MARLIN JONES SOLE PROPRIETORSHIP } \\ \hline \multicolumn{1}{|c|}{ For the Year Ended December 31, Year 1} \\ \hline Cash flows from operating activities: \\ \hline \\ \hline Net cash flow from operating activities \\ \hline Cash flows from investing activities \\ \hline \\ \hline Net cash flow from investing activities \\ \hline Cash flows from financing activities \\ \hline \\ \hline \\ \hline Net cash flow from financing activities \\ \hline Net change in cash \\ \hline \\ \hline Ending cash balance \\ \hline \end{tabular}