Exercise 11-2A (Algo) Effect of accounting events on the financial statements of a sole proprietorship LO 11-1 A sole proprietorship was started on January 1, Year 1, when it received $48,000 cash from Marin Jongs, the owner Duning Year 1, the company eamed $50,300 in cash revenues and paid $19,890 in cash expenses Jones withdrew $6,200 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 yeat. Note: For Statement of Cash Flows only, indicate amounts to be deducted and cash outliows with a minus sign. Answer is not complete. Answer is not complete. heck my work mode: This shows what is correct or incorrect for the work you have