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Problem: Module 3 Textbook Problem 9 Learning Objective: 3.9 Identify the primary characteristics of sole...

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Problem: Module 3 Textbook Problem 9 Learning Objective: 3.9 Identify the primary characteristics of sole proprietorships, partnerships, and corporations A sole proprietorship was started on January 1, Year 1, when it received $66,000 cash from Marlin Jones, the owner. During Year 1 , the company earned $47,000 in cash revenues and paid $22,360 in cash expenses. Jones withdrew $5,800 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 fiows for Jones's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare the income statement

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