The Creighton Company was started on January 1, 2013 as a sole proprietorship. The initial investment from Chris Creighton, the owner, was $160,000. During 2013, the business earned $120,000 in cash revenue and paid $80,000 in cash expenses. Mr. Creighton withdrew $8,000 for her personal use. Using the above information, prepare an income statement, a capital statement, and a balance sheet for the Creighton Company.

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The Answer of The Creighton Company was started on January 1, 2013 as a sole proprietorship. The initial investment from Chris Creighton, the owner, was $160,000. During 2013, the business earned $120,000 in cash revenue and paid $80,000 in cash expenses. Mr. Creighton withdrew $8,000 for her personal use. Using the above information, prepare an income statement, a capital statement, and a balance sheet for the Creighton Company.

The Creighton Company Was Started on January 1, 2013 as a Sole