Faith Busby and Jeremy Beatty started the B&B partnership on January 1, 2018. The business acquired $91,000 cash from Busby and $169,000 from Beatty. During 2018, the partnership earned $60,500 in cash revenues and paid $42,300 for cash expenses. Busby withdrew $3,300 cash from the business, and Beatty withdrew $4,800 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 2018 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Capital Statement Balance Sheet Smt of Cash Fls Prepare a capital statement. B&B PARTNERSHIP Capital Statement For the Year Ended December 31, 2018 Beginning capital balance $ Plus: Capital acquired from owner 260,000 Plus: Net income Less: Withdrawal by owner Ending capital balance $ 260.000 Income Statement Balance Sheet > Faith Busby and Jeremy Beatty started the B&B partnership on January 1, 2018. The business acquired $91,000 cash from Busby and $169,000 from Beatty. During 2018, the partnership earned $60,500 in cash revenues and paid $42,300 for cash expenses. Busby withdrew $3,300 cash from the business, and Beatty withdrew $4,800 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 2018 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Capital Statement Balance Sheet Smt of Cash Fls Prepare a balance sheet. B&B PARTNERSHIP Balance Sheet As of December 31, 2018 Assets Cash $ 0 Total assets Liabilities Equity F. Busby, Capital J. Beatty, Capital Total equity 0 Total liabilities and equity $ 0 Faith Busby and Jeremy Beatty started the B&B partnership on January 1, 2018. The business acquired $91,000 cash from Busby and $169,000 from Beatty. During 2018, the partnership earned $60,500 in cash revenues and paid $42,300 for cash expenses. Busby withdrew $3,300 cash from the business, and Beatty withdrew $4,800 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 2018 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Capital Statement Balance Sheet Smt of Cash Fls Prepare a statement of cash flows. (Negative amounts should be indicated by a minus sign.) B&B PARTNERSHIP Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: $ 0 Net cash flow from operating activities Cash flows from investing activities 0 Net cash flow from investing activities Cash flows from financing activities 0 Net cash flow from financing activities Net change in cash 0 TIL Ending cash balance $ Faith Busby and Jeremy Beatty started the B&B partnership on January 1, 2018. The business acquired $91,000 cash from Busby and $169,000 from Beatty. During 2018, the partnership earned $60,500 in cash revenues and paid $42,300 for cash expenses. Busby withdrew $3,300 cash from the business, and Beatty withdrew $4,800 cash. The net income was allocated to the capital accounts of the two partners in proportion to the amounts of their original Investments 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 2018 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Capital Statement Balance Sheet Smt of Cash Fls Prepare the income statement. B&B PARTNERSHIP Income Statement For the Year Ended December 31, 2018 Revenues $ 60,500 Expenses 42,300 Net income $ 18,200