A sole proprietorship was started on January $1,$ Year $1.$

A sole proprietorship was started on January 1, Year 1, when it received $59,000 cash from Marlin Jones, the owner. During Year 1, the company earned $45,200 in cash revenues and paid $18,760 in cash expenses. Jones withdrew $6,600 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's Year 1 fiscal year. Note: For Statement of Cash Flows only, indicate amounts to be deducted and cash outflows with a minus sign. ARLIN JONES SOLE PROPRIETORSHIP Income Statement For the Year Ended December 31, Year 1 MARLIN JONES SOLE PROPRIETORSHIP Capital Statement For the Year Ended December 31, Year 1 Beginning capital balance Ending capital balance MARLIN JONES SOLE PROPRIETORSHIP Balance Sheet As of December 31 Year 1 Assets Total assets Liabilities Total liabilities and equity MARLIN JONES SOLE PROPRIETORSHIP Statement of Cash Flows For the Year Ended December 31 Year 1 Cash flows from operating activities: Net cash now from operating activities Cash flows from investing activities Net cash now from investing activities Cash flows from financing activities Net cash now from financing activities Net change in cash Ending cash balance