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A sole proprietorship was started on January 1, 2018, when it received $48,000 cash from Marlin Jones, the owner. During 2018, the company earned
A sole proprietorship was started on January 1, 2018, when it received $48,000 cash from Marlin Jones, the owner. During 2018, the company earned $38,900 in cash revenues and paid $22,880 in cash expenses. Jones withdrew $5,100 cash from the business during 2018. Required: Prepare the income statement, capital statement (statement of changes in equity). balance sheet, and statement of cash flows for Jones's 2018 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Capital Statement Smt of Cash Balance Sheet Fls Prepare the income statement. MARLIN JONES SOLE PROPRIETORSHIP Income Statement For the Year Ended December 31, 2018
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