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Part $1$ of $3$

Requlred Information

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Cascade Company was started on January $1,$ Year $1,$ when it acquired $$157,000$ cash from the owners. During Year $1,$ the company earned cash revenues of $$91,200$ and incurred cash expenses of $$68,900.$ The company also paid cash distributions of $$11,000.$

Required

Prepare a Year $1$ Income statement, capital statement $($statement of changes in equity$),$ balance sheet, and statement of cash flows under each of the following assumptions. $($Consider each assumption separately.$)$

c$.$ Cascade is a corporation. It Issued $11,000$ shares of $$9$ par common stock for $$157,000$ cash to start the business.

Complete this question by entering your answers in the tabs below.

Inc Stmt

Stmt of

Bal Sheet

Cash Flows

Prepare a income statement for Year $1.$

$\backslash$table$[[$CASCADE COMPANY$],[$Income Statement,$],[$For the Year Ended December $31,$ Year $1,],[,],[,],[,]]$

Prepare a Year $1$ income statement, capital statement $($statement of changes in equity$),$ balance sheet, and statement of cash flows under each of the following assumptions. $($Consider each assumption separately.$)$

c$.$ Cascade is a corporation. It Issued $11,000$ shares of $$9$ par common stock for $$157,000$ cash to start the business.

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[$Inc Stmt$,\backslash$table$[[$Stmt of$],[$Changes$]],$Bal Sheet,Cash Flows$]]$

Prepare a statement of changes in stockholders' equity for Year $1.($Deductions should be indicated by a minus sign.$)$

c$.$ Cascade is a corporation. It issued $11,000$ shares of $$9$ par common stock for $$157,000$ cash to start the business.

Complete this question by entering your answers in the tabs below.

Inc Stmt

Strint of

Changes

Bal Sheet

Cash Flows

Prepare a balance sheet for Year $1.$

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[$Inc Stmt$,\backslash$table$[[$Stmt of$],[$Changes$]]]]$

Prepare a statement of cash flows for Year $1.($Cash outflows should be indicated with a minus sign.$)$

$\backslash$table$[[$CASCADE COMPANY$],[$Statement of Cash Flows$],[$For the Year Ended December $31,$ Year $1],[$Cash flows from operating activities:$],[r,,],[,,],[$Net cash flow from operating activities,$$,0],[$Cash flows from investing activities$],[$Cash flows from financing activities:$],[,,],[,,],[,,],[$Net cash flow from financing activities,,$0],[$Net change in cash,,$0],[,,],[$Ending cash balance,$$,0]]$