1. You received the following statement for 2012 for your savings account at a bank. Cash balances in the account earn interest at a 5 percent rate per annum. Balance, January 1, 2012 $ 100 Earnings at an interest rate of 5% p.a. 5 Withdrawals (5) Balance, December 31, 2012 100 This statement is effectively a statement of owner's equity for the account. It shows your starting balance, adds your earnings for the year, and subtracts your dividend (the withdrawal), to yield a closing balance. Prepare an income statement, balance sheet, cash flow statement, and Statement of Owner's Equity for this 2012 Account 2. Rather than withdrawing $5 from the account, suppose you left it in the account. What would your financial statements for 2012 then look like? (5 points)

Prepare an income statement, balance sheet, cash flow statement, and Statement of Owner's Equity for this 2012 Account

You received the following statement for 2012 for your savings account at a bank. Cash balances in the account earn interest at a 5 percent rate per annum. This statement is effectively a statement of owner's equity for the account. It shows your starting balance, adds your earnings for the year, and subtracts your dividend (the withdrawal), to yield a closing balance. 1) Prepare an income statement, balance sheet, and cash flow statement for this account for 2012. (5 points) Rather than withdrawing $5 from the account, suppose you left it in the account. What