Check 9 Problem: Module 3 Textbook Problem 9 Learning Objective: 3-9 Identify the primary characteristics of sole proprietorships, partnerships, and corporations 5 blnts A sole proprietorship was started on January 1, Year 1, when it received $51,000 cash from Marlin Jones, the owner. During Year 1, the company earned $37,100 in cash revenues and paid $19,930 in cash expenses. Jones withdrew $6,100 cash from the business during Year 1. Hint Required Prepare the income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for Jones's Year 1 fiscal year. Print Complete this question by entering your answers in the tabs below. Income Statement Capital Statement Balance Sheet Stmt of Cash Flows Prepare a statement of cash flows. (Cash outflows should be indicated with a minus sign.). MARLIN JONES SOLE PROPRIETORSHIP Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities Receipts from revenues S 37.100 book Problems Saved Required Prepare the income statement, capital statement (statement of changes in equity), b Jones's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Capital Statement Balance Sheet Stmt of Cash Flows Prepare the income statement. MARLIN JONES SOLE PROPRIETORSHIP Income Statement For the Year Ended December 31, Year 1 Cash 37.100 Expenses 19.930 Net income $ 17.170 Capital Statement > Dra Required Prepare the income statement, capital statement (statement of changes in Jones's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Capital Statement Balance Sheet Stmt of Cash Flows Prepare a capital statement. MARLIN JONES SOLE PROPRIETORSHIP Capital Statement For the Year Ended December 31, Year 1 Beginning capital balance $ 0 Less: Capital acquired from owner (51.000) Plus. Net income 37 100 Ending capital balance 5 (13.900) > Preu S of 20 Next Statement Ddidice Duzel Statement Flows Prepare a statement of cash flows. (Cash outflows should be indicated with a mi MARLIN JONES SOLE PROPRIETORSHIP Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Receipts from revenues $ 37.100 Paid for expenses (19.930) Net cash flow from operating activities Cash flows from investing activities: 0 $ 17,170 0 CA 0 51.000 Net cash flow from investing activities Cash flows from financing activities: Proceeds from owner Paid for owner withdrawals Net cash flow from financing activities Net change in cash (6.100) 44 900 62 070 Ending cash balance $ 62.070