uest ezta.mheducation.com/ext/map/indexhtml?_con=con&external_browser=0&launch Url=https%253A%252F%2 Chapter 11 Assignment i Saved 1 0.49 Doints eBook Hint Ask Exercise 11-2A (Algo) Effect of accounting events on the financial statements of a sole proprietorship LO 11-1 A sole proprietorship was started on January 1, Year 1, when it received $61,500 cash from Marlin Jones, the owner. During Year 1, the company earned $51,200 in cash revenues and paid $22,140 in cash expenses. Jones withdrew $4,500 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 MARLIN JONES SOLE PROPRIETORSHIP Capital Statement For the Year Ended December 31, Year 1 Beginning capital balance Ending capital balance Assets MARLIN JONES SOLE PROPRIETORSHIP Balance Sheet As of December 31, Year 1 Total assets Liabilities Equity Total liabilities and equity MARLIN JONES SOLE PROPRIETORSHIP Statement of Cash Flows 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 Ending cash balance