$196,000 from Beatty. During Year 1, the partnership earned $60,600 in cash revenues and paid $36,450 for cash expenses. Busby withdrew $3,100 cash from the business, and Beatty withdrew $3.000 cash. The net income was allocated to the capital accounts of the two partners in proportion to the amounts of their original investments in the business. Required Prepare an income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for B\&B's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare the income statement. $196,000 from Beatty. During Year 1, the partnership earned $60,600 in cash revenues and paid $36,450 for cash expenses. Busby withdrew $3,100 cash from the business, and Beatty withdrew $3,000 cash. The net income was allocated to the capital accounts of the two partners in proportion to the amounts of their original investments in the business. Required Prepare an income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for B\&B's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare a balance sheet. (Do not round intermediate calculations and round your final answer to the nearest whole dollar amount.) \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ B8B PARTNERSHIP } \\ \hline \multicolumn{1}{|c|}{ Statement of Cash Flows } \\ \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 & & \\ \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} $196,000 from Beatty. During Year 1, the partnership earned $60,600 in cash revenues and paid $36,450 for cash expenses. Busby withdrew $3,100 cash from the business, and Beatty withdrew $3.000 cash. The net income was allocated to the capital accounts of the two partners in proportion to the amounts of their original investments in the business. Required Prepare an income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for B\&B's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare the income statement. $196,000 from Beatty. During Year 1, the partnership earned $60,600 in cash revenues and paid $36,450 for cash expenses. Busby withdrew $3,100 cash from the business, and Beatty withdrew $3,000 cash. The net income was allocated to the capital accounts of the two partners in proportion to the amounts of their original investments in the business. Required Prepare an income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for B\&B's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare a balance sheet. (Do not round intermediate calculations and round your final answer to the nearest whole dollar amount.) \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ B8B PARTNERSHIP } \\ \hline \multicolumn{1}{|c|}{ Statement of Cash Flows } \\ \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 & & \\ \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}