135. A sole proprietorship was formed on January 1, 2016, when it received $90,000 cash from Kaitlyn Conrad, the owner. During 2016, the business earned $138,000 in cash revenues and paid $102,400 in...

135. A sole proprietorship was formed on January 1, 2016, when it received $90,000 cash from Kaitlyn Conrad, the owner. During 2016, the business earned $138,000 in cash revenues and paid $102,400 in cash expenses. Conrad withdrew $16,000 in cash during the year.

Required: Prepare an income statement, capital statement, balance sheet, and statement of cash flows for the 2016 fiscal year.