Premo Corporation was started with the issue of 8,000 shares of $10 par common stock for cash on January 1, 2010. The stock was issued

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Premo Corporation was started with the issue of 8,000 shares of $10 par common stock for cash on January 1, 2010. The stock was issued at a market price of $18 per share. During 2010, the company earned $58,000 in cash revenues and paid $39,000 for cash expenses. Also, a $4,000 cash dividend was paid to the stockholders.

Required

Prepare an income statement, statement of changes in stockholders’ equity, balance sheet, and

statement of cash flows for Premo Corporation’s 2010 fiscal year.