Faith Busby and Jeremy Beatty started the B&B partnership on January 1, Year 1. The business acquired $105,300 cash from Busby and $164,700 from Beatty. During Year 1, the partnership earned $60,500 in cash revenues and paid $25,050 for cash expenses. Busby withdrew $1,700 cash from the business, and Beatty withdrew $5,100 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

Prepare a statement of cash flows.

B&B PARTNERSHIP
Statement of Cash Flows
For the Year Ended December 31, Year 1
Cash flows from operating activities:
Net cash flow from operating activities		$0
Cash flows from investing activities:
Net cash flow from investing activities		$0
Cash flows from financing activities:
Net cash flow from financing activities		0
Net change in cash		0
Ending cash balance		$0

B&B PARTNERSHIP
Balance Sheet
As of December 31, Year 1
Assets
Total assets		$0
Liabilities
Equity
Total equity		0
Total liabilities and equity		$0

B&B PARTNERSHIP
Capital Statement
For the Year Ended December 31, Year 1
Beginning capital balance	$0
Plus: Capital acquired from owner
Plus: Net income
Plus: Withdrawal by owner
Ending capital balance	$0

B&B PARTNERSHIP
Income Statement
For the Year Ended December 31, Year 1
Revenues
Expenses
Net income	$0