The Curtis Company Was Started on January 1,2016 as a Sole

Essay

The Curtis Company was started on January 1,2016 as a sole proprietorship.The initial investment from Charlotte Curtis,the owner,was $80,000.During 2016,the business earned $60,000 in cash revenue and paid $45,000 in cash expenses.Ms.Curtis withdrew $7,000 for her personal use.Using the above information,prepare an income statement,a capital statement,and a balance sheet for the Curtis Company.