Astro Corporation was started with the issue of 2,000 shares of $5 par stock for cash on January 1, Year 1. The stock was issued at a market price of $12 per share. During Year 1, the company earned $31,000 in cash revenues and paid $17,100 for cash expenses. Also, a $2,000 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 Astro Corporation's Year 1 fiscal year.

NEED HELP WITH THE BALANCE SHEET AND STATMENT OF CASH FLOWS.

Income Stmt of Stmt of Cash Statement Changes Balance Sheet Flows Prepare a balance sheet. Total assets Liabilities Stockholders' equity Total liabilities and stockholders' equity _m Income Stmt of Statement Balance Sheet Stmt of Cash Changes Flows Prepare a statement of cash flows. (Cash outflows should be indicated with a minus sign.) ASTRO CORPORATION Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Net cash flow from operating activities $ 0 Cash flows from investing activities: Net cash flow from investing activities $ 0 Cash flows from financing activities: Net cash flow from financing activities 0 Net change in cash 0 Ending cash balance $ 0Income Stmt of Balance Sheet Stmt of Cash Statement Changes Flows Prepare the income statement. ASTRO CORPORATION Income Statement For the Year Ended December 31, Year 1 Revenues $ 31,000 Expenses (17, 100) Net income $ 13,900Income Stmt of Balance Sheet Stmt of Cash Statement Changes Flows Prepare a statement of changes in stockholders' equity. ASTRO CORPORATION Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock 0 Plus: Issuance of common stock 24,000 Ending common stock $ 24,000 Beginning retained earnings $ O Plus: Net income 13,900 Less: Dividend (2,000) Ending retained earnings 11,900 Total stockholders' equity $ 35,900