A sole proprietorship was started on January 1, 2016, when it received $47,500 cash from Marlin Jones, the owner. During 2016, the company earned $40,900 in cash revenues and paid $21,070 in cash expenses. Jones withdrew $5,100 cash from the business during 2016, Required Prepare an income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for Jone's 2016 fiscal year. (Statement of Cash Flows only, items to be deducted must be indicated with a negative amount.) MARLIN JONES SOLE PROPRIETORSHIP Income Statement For the Year Ended December 31, 2016 Revenues $ 40,900 Expenses (21,070) Net income $ 19,830 MARLIN JONES SOLE PROPRIETORSHIP Capital Statement For the Year Ended December 31, 2016 Beginning capital balance $ 0 Plus: Capital acquired from owner? 47,500 Plus: Net income 19,830 Less: Withdrawal by owner 5,100 Ending capital balance $ 62,230