Astro Corporation was started with the issue of 4,800 shares of $11 par stock for cash on January 1, Year 1. The stock was issued at a market price of $18 per share During Year 1, the company earned $70,100 in cash revenues and paid $46,967 for cash expenses Also, a $4,600 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. ASTRO CORPORATION Income Statement For the Year Ended December 31, Year 1 ASTRO CORPORATION Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity ASTRO CORPORATION Balance Sheet As of December 31, Year 1 Assets Total assets Liabilities Stockholders' equity Total Paid-In Capital Total liabilities and stockholders' equity 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 Cash flows from investing activities: Net cash flow from investing activities Cash flows from financing activities: Net cash flow from financing activities Net change in cash Ending cash balance