Exercise 11-2A (Algo) Effect of accounting events on the financial statements of a sole proprietorship LO 111 A sole proprietorship was started on January 1, Year 1, when it received $53,500 cash from Marlin Jones, the cwner. During Year 1, the company eamed $39,700 in cash revenues and paid $21,030 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' Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare an income statement for Jones Year 1 fiscal year. A sole proprietorship was started on January 1, Year 1, when it received $53,500 cash from Marlin Jones, the owner. During Year 1, the company earned $39,700 in cash revenues and paid $21,030 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' Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare a copital statement (statement of changes in equity) for Jones Year 1 fiscal year. Prepare a statement of cash flows for Jones' Year 1 fiscal year. (Enter cash outflows with a minus sign.) Jones' Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare a balance sheet for Jones Year 1 fiscal year