A sole proprietorship was started on January 1, Year 1, when it received $70,500 cash from Marlin Jones, the owner. During Year 1, the company earned $40,300 in cash revenues and paid $22,730 in cash expenses. Jones withdrew $5,400 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.