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Astro Corporation was started with the issue of 4,800 shares of $9 par stock for cash on January 1, Year 1. The stock was issued
Astro Corporation was started with the issue of 4,800 shares of $9 par stock for cash on January 1, Year 1. The stock was issued at a market price of $15 per share. During Year 1, the company earned $65,250 in cash revenues and paid $43,718 for cash expenses. Also, a $3,400 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. Income Statement Stmt of Changes Balance Sheet Stmt of Cash Flows Prepare the income statement. ASTRO CORPORATION Income Statement For the Year Ended December 31, Year 1 $ 0 Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Balance Sheet Stmt of Cash 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 $ O Ending common stock Beginning retained earnings O Ending retained earnings Total stockholders' equity $ 0
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