Question: 1 3 Check my work 8.33 points eBook A sole proprietorship was started on January 1, Year 1, when it received $40,500 cash from

1 3 Check my work 8.33 points eBook A sole proprietorship was

1 3 Check my work 8.33 points eBook A sole proprietorship was started on January 1, Year 1, when it received $40,500 cash from Marlin Jones, the owner. During Year 1, the company earned $39,000 in cash revenues and paid $18,790 in cash expenses. Jones withdrew $6,400 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' Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Hint Income Statement Capital Statement Balance Sheet Cash Flows Statement of Print Prepare an income statement for Jones Year 1 fiscal year. MARLIN JONES SOLE PROPRIETORSHIP Income Statement References For the Year Ended December 31, Year 1

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