Problem: Module 3 Textbook Problem 10 Learning Objective: 3.9 Identify the primary characteristics of sole proprietorships, partnerships, and corporations Faith Busby and Jeremy Beatty started the B\&B partnership on January 1, Year 1. The business acquired $91,000 cash from Busby and $169,000 from Beatty. During Year 1, the partnership earned $61,400 in cash revenues and paid $43,950 for cash expenses, Busby withdrew $3,300 cash from the business, and Beatty withdrew $3,000 cash. The net income was allocated to the capital occounts 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 Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare the income statement. Problem: Module 3 Textbook Problem 10 Learning Objective: 3-9 Identify the primary characteristics of sole proprietorships, partnership Faith Busby and Jeremy Beatty started the B\&B partnership on January 1, Year 1. The business ace $169,000 from Beatty. During Year 1 , the partnership earned $61,400 in cash revenues and paid $ withdrew $3,300 cash from the business, and Beatty withdrew $3,000 cash. The net income was 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, a Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare a capital statement. Complete this question by entering your answers in the tabs below. Prepare a baiance sheet. (Do not round intermediate calculations and round your final answer to the nearest whole dollar amount.) Prepare a statement of cash flows. (Cash outflows should be indicated with a minus signi)