Problem: Module 3 Textbook Problem 10 Learning Objective: 3-9 Identify the primary characteristics of sole proprietorships, partnerships, and corporations Faith Busby and Jeremy Beatty started the B\&B partnership on January 1, Year 1. The business acquired $105,300 cash from Busby and $164,700 from Beatty. During Year 1, the parthership earned $62,600 in cash revenues and paid $28,150 for cash expenses. Busby withdrew $3,300 cash from the business, and Beatty withdrew $3,300 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, Required Prepare an income statement, capital statement (statement of changes in equity), balance sheet. and statement of cash flows for B\&E's Year 1 fiscal year Complete this question by entering your answers in the tabs below. Prepare the income statement. Prepare a capital statement. Prepare a balance sheet. (Do not round intermediate calculations and round your final answer to the amount.) B\&B PARTNERSHIP Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities