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Astro Corporation was started with the issue of 4,400 shares of $9 par stock for cash on January 1, Year 1. The stock was issued
Astro Corporation was started with the issue of 4,400 shares of $9 par stock for cash on January 1, Year 1. The stock was issued at a market price of $19 per share. During Year 1, the company earned $71,950 in cash revenues and paid $48,207 for cash expenses. Also, a $3,300 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 Year 1 fiscal year.
Prepare a balance sheet. Prepare a statement of cash flows. Nota. Cach nutflnuse chnuld he indirated with a minc cian Prepare a statement of changes in stockholders' equity. Astro Corporation was started with the issue of 4,400 shares of $9 par stock for cash on January 1, Year 1 . The stock was issued at a market price of $19 per share. During Year 1, the company earned \$71,950 in cash revenues and paid \$48,207 for cash expenses. Also, a $3,300 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 Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare the income statementStep by Step Solution
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