tes A sole proprietorship was started on January 1, Year 1, when it received $53,000 cash from Marlin Jones, the owner. During Year 1, the company earned $49,600 in cash revenues and paid $20,190 in cash expenses. Jones withdrew $5,000 cash from the business during Year 1. Required Prepare an income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for Jones's Year 1 fiscal year. Note: For Statement of Cash Flows only, indicate amounts to be deducted and cash outflows with a minus sign. MARLIN JONES SOLE PROPRIETORSHIP Income Statement For the Year Ended December 31, Year 1 $ 0 MARLIN JONES SOLE PROPRIETORSHIP Capital Statement For the Year Ended December 31, Year 1 Beginning capital balance