Faith Busby and Jeremy Beatty started the B&B partnership on January 1, Year 1. The business acquired $44,000 cash from Busby and $66,000 from Beatty. During Year 1, the partnership earned $42,000 in cash revenues and paid $18,400 for cash expenses. Busby withdrew $2,000 cash from the business, and Beatty withdrew $2,500 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, 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. Statement Balance Sheet Statement of Income Statement Capital Cash Flows Prepare an income statement for B&B's Year 1 fiscal year. B&B PARTNERSHIP Income Statement For the Year Ended December 31, Year 1 Capital Statement > Book Faith Busby and Jeremy Beatty started the B&B partnership on January 1, Year 1. The business acquired $44,000 cash from Busby and $66,000 from Beatty. During Year 1, the partnership earned $42,000 in cash revenues and paid $18,400 for cash expenses. Busby withdrew $2,000 cash from the business, and Beatty withdrew $2,500 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, 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. erences Income Statement Capital Statement Balance Sheet Statement of Cash Flows Prepare a capital statement for B&B's Year 1 fiscal year. B&B PARTNERSHIP Capital Statement For the Year Ended December 31, Year 1 Beginning capital balance Ending capital balance Statemak, Capital statement, 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. Book Hot ferences Income Statement Capital Statement Balance Sheet Statement of Cash Flows Prepare a balance sheet for B&B's Year 1 fiscal year. Assets B&B PARTNERSHIP Balance Sheet As of December 31, Year 1 Total assets Liabilities Equity Total equity Total liabilities and equity Capital Statement Statement of Cash flows > 2 Complete this question by entering your answers in the tabs below. wook Hint References Income Statement Capital Statement Balance Sheet] Statement of Cash Flows Prepare a statement of cash flows for B&B's Year 1 fiscal year. (Enter cash outflows with a minus sign.) B&B PARTNERSHIP Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities Mc firew Net cash flow from operating activities Cash flows from investing activities Net cash flow from investing activities Cash flows from financing activities Net cash flow from financing activities Net change in cash Ending cash balance Prey Brglement of Gest Next >