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A sole proprietorship was started on january

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A sole proprietorship was started on January 1, 2013, when it received $40,000 cash from Jimmy Ross, the owner. During 2013, the company earned $28,300 in cash revenues and paid $14,100 in cash expenses. Ross withdrew $1,000 cash from the business during 2013.

Required:

Prepare an income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for Ross 2013 fiscal year.

Reference no: EM13915579

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