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Asole proprietorship was started on January 1, 2016, when it received $60,500 cash from Martin Jones, the owner. During 2016, the company earned $43,600 in

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Asole proprietorship was started on January 1, 2016, when it received $60,500 cash from Martin Jones, the owner. During 2016, the company earned $43,600 in cash revenues and paid $19,930 in cash expenses. Jones withdrew $6,000 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

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