- You received partial credit in the previous attempt 6 Faith Busby and Jeremy Beatty started the B&B partnership on January 1 Year 1. The business acquired $85,800 cash from Busby and $134,200 from Beatty. During Year 1. the partnership earned $66.400 in cash revenues and paid $26,400 for cash expenses. Busby withdrew $1,700 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. 5 points 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. eBook Complete this question by entering your answers in the tabs below. Hint Income Statement Capital Statement Balance Sheet Stmt of Cash Flows References Prepare the income statement. B&B PARTNERSHIP Income Statement For the Year Ended December 31, Year 1 Revenues Expenses Net income $ Capital Statement >