chapter 8 #1 I need help with these parts for the question thank you!

Chapter 8 Assignment 1 1 Exercise 8-2A (Algo) Effect of accounting events on the financial statements of a sole proprietorship LO 8-1 25 points 8 04:26:00 A sole proprietorship was started on January 1, Year 1, when it received $56,000 cash from Marlin Jones, the owner. During Year 1, the company earned $42,500 in cash revenues and paid $19,210 in cash expenses. Jones withdrew $4,700 cash from the business during Year 1 Required Prepare the income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for Jones's Year 1 fiscal year, Book 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 MARLIN JONES SOLE PROPRIETORSHIP Income Statement For the Year Ended December 31. Year 1 Revenues Expenses Net income $ 0 Complete this question by entering your answer Income Statement Capital Statement Balance Sheet Stmt of Cash Flows Prepare a capital statement. MARLIN JONES SOLE PROPRIETORSHIP Capital Statement For the Year Ended December 31, Year 1 Beginning capital balance Plus: Capital acquired from owner Plus: Net income Less: Withdrawal by owner Ending capital balance $