Check my work Exercise 8-3A (Algo) Effect of accounting events on the financial statements of a partnership LO 8-1 Faith Busby and Jeremy Beatty started the B&B partnership on January 1, Year 1. The business acquired $85,800 cash from Busby and $174,200 from Beatty During Year 1, the partnership earned $65,200 in cash revenues and paid $33,550 for cash expenses. Busby withdrew $3,200 cash from the business, and Beatty withdrew $3,700 cash. The net income was allocated to the capital accounts of the two partners in proportion to the amounts of their original investments in the business Required Prepare an income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for B&B's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Capital Statement Stmt of Cash Balance Sheet Flows Prepare a balance sheet. (Do not round intermediate calculations and round your final answer to the nearest whole dollar amount.) < Prev 3 of 4 Next > ASUS