This document provides examples of basic financial statements for a sole proprietorship business, including an income statement, statement of owner's capital, and balance sheet. The income statement shows revenues, expenses, and net income of $33,000 for the year. The statement of owner's capital indicates the owner's equity started at $7,000, increased by the $33,000 net income, less $2,000 in withdrawals, to end at $38,000. The balance sheet lists the business's assets of $189,000, which include current assets of $27,000 and long-term assets of $162,000, and liabilities of $101,000 and owner's equity of $88,000