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Need help with the income sattement/capital statement/balance sheet and stmt of cash flows. A sole proprietorship was started on January 1 , Year 1 ,
Need help with the income sattement/capital statement/balance sheet and stmt of cash flows.
A sole proprietorship was started on January 1 , Year 1 , when it received $78,500 cash from Marlin Jones, the owner. During Year 1 , the company earned $41,400 in cash revenues and paid $23,370 in cash expenses. Jones withdrew $6,600 cash from the business during Year 1. Required Prepare the income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for Jones's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare the income statementStep by Step Solution
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