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Astro Corporation was started with the issue of 4,100 shares of $9 par stock for cash on January 1, 2018. The stock was issued at
Astro Corporation was started with the issue of 4,100 shares of $9 par stock for cash on January 1, 2018. The stock was issued at a market price of $19 per share. During 2018, the company earned $68,600 in cash revenues and paid $45,962 for cash expenses. Also, a $4,300 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 Corporations 2018 fiscal year.
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