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Faith Busby and Jeremy Beatty started the B&B partnership on January 1, Year 1 The business acquired $83,600 cash from Busby and $136.400 from Beatty. During Year 1, the partnership earned $68,700 in cash revenues and paid $14,650 for cash expenses. Busby withdrew $2,200 cash from the business, and Beatty withdrew $4,200 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, balance sheet and statement of cash flows for B&B's Year 1 fiscal year, Complete this question by entering your answers in the tabs below. Income Capital Statement of Statement Cash Flows Prepare an income statement for B&B's Year 1 fiscal year. Statement Balance Sheet BRD PARTNERSHIP Income Statement For the Year Ended December 31, Year 1 Income Statement Capital Statement Balance Sheet Statement of Cash Flows Prepare a capital statement for B&B's Year 1 fiscal year. B&B PARTNERSHIP Capital Statement For the Year Ended December 31, Year 1 Beginning capital balance Ending capital balance 31 B&B PARTRSHIP Balance Sheet As of December 31, Year 1 Assets Total assets Liabilities Equity Total equity Total liabilities and equity B&B PARTNERSHIP Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Net cash flow from operating activities Cash flows from investing activities Net cash flow from investing activities Cash flows from financing activities: Net cash flow from financing activities Net change in cash Ending cash balance

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