3 Part 2 of 2 00:33:44 Required information [The following information applies to the questions displayed below.] Milea Inc. experienced the following events in Year 1, its first year of operations: 1. Received $16,000 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,200. 4. Collected $33,230 of the accounts receivable. 5. Recorded $5,200 of accrued salaries at the end of the year. 6. Paid a $850 cash dividend to the stockholders. b-1. Prepare the income statement. Expenses MILEA INC. Income Statement For the Year Ended December 31, Year 1 3 Part 2 of 2 00:33:35 b-1. Prepare the income statement. Expenses MILEA INC. Income Statement For the Year Ended December 31, Year 1 Total expenses 0 $ 0 Part 2 of 2 b-2. Prepare the statement of changes in stockholders' equity. X 00:33:23 MILEA INC. Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock Ending common stock Beginning retained earnings $ SA 0 Ending retained earnings 0 Total stockholders' equity $ 0 Part 2 of 2 b-3. Prepare the balance sheet. MILEA INC. Balance Sheet As of December 31, Year 1 Assets 00:33:15 Total assets Liabilities Total liabilities Stockholders' Equity + Total stockholders' equity Total liabilities and stockholders' equity $ 0 $ 0 0 $ 0 0 Required information Saved Help Save & Exit Subm b-4. Prepare the statement of cash flows for the Year 1 accounting period. (Amounts to be deducted and cash outflows should be indicated with a minus sign.) MILEA INC. Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities Net cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Net cash flow from financing activities Net change in cash Ending cash balance $ 0 0 0 $ 0 S Next