2. Prepare the statement of changes in stockholders equity?

3. Prepare the balance sheet?

4. Prepare the statement of cash flows for year 1 accounting period?

1. Received $20,000 cash from the issue of common stock. 2. Performed services on account for $56,000. 3. Paid the utility expense of $2,500. 4. Collected $48,000 of the accounts receivable. 5. Recorded $10,000 of accrued salaries at the end of the year. 6. Paid a $2,000 cash dividend to the stockholders. b-1. Prepare the income statement. MILEA INC. Income Statement For the Year Ended December 31, Year 1 Expenses Total expenses