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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

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 $17 per share. During Year 1, the company earned $68,600 in cash revenues and paid $45,962 for cash expenses. Also, a $3,100 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.

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