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Faith Busby and Jeremy Beatty started the B&B partnership on January 1, 2018. The business acquired $73,500 cash from Busby and $136,500 from Beatty. During

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Faith Busby and Jeremy Beatty started the B&B partnership on January 1, 2018. The business acquired $73,500 cash from Busby and $136,500 from Beatty. During 2018, the partnership earned $60,100 in cash revenues and paid $44,450 for cash expenses. Busby withdrew $2,300 cash from the business, and Beatty withdrew $2,800 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 Fis Prepare the income statement. B&B PARTNERSHIP Income Statement For the Year Ended December 31, 2018

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