$\backslash$table$[[$B&B PARTNERSHIP$],[$Capital Statement$],[$For the Year Ended December $31,$ Year $1],[$Beginning capital balance,$$,270,000],[$Plus: Capital acquired from owner,,$100,000],[$Plus: Net income,,$25,200],[$Less: Withdrawal by owner,,$(6,500)],[$Ending capital balance,$$,118,700]]\backslash$table$[[$B&B PARTNERSHIP$],[$Balance Sheet,,$],[$As of December $31,$ Year $1,,],[$Assets$,,],[,,],[,,],[$Total assets,,$$],[$Liabilities$,,],[$Equity$,,],[,,],[,,],[,,],[$Total equity,,$],[$Total liabilities and equity,,$$]]\backslash$table$[[$B&B PARTNERSHIP,$],[$For the Year Ended December $31,$ Year $1,,],[$Cash flows from operating activities:,,$],[,,],[,,],[$Net cash flow from operating activities,,$$],[$Cash flows from investing activities:,,$],[,,],[,,],[$Net cash flow from investing activities,,$$],[$Cash flows from financing activities:,,$],[,,],[,,],[$Net cash flow from financing activities,,$],[$Net change in cash,,$0],[,,0],[$Ending cash balance,,$$]]$Faith Busby and Jeremy Beatty started the B&B partnership on January $1,$ Year $1.$ The business acquired $$105,300$ cash from Busby

and $$164,700$ from Beatty. During Year $1,$ the partnership earned $$67,800$ in cash revenues and paid $$42,600$ for cash expenses.

Busby withdrew $$2,700$ cash from the business, and Beatty withdrew $$3,800$ 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$\text{'}$s

Year $1$ fiscal year.