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Astro Corporation was started with the issue of 5,000 shares of $9 par common stock for cash on January 1, 2016. The stock was issued
Astro Corporation was started with the issue of 5,000 shares of $9 par common stock for cash on January 1, 2016. The stock was issued at a market price of $16 per share. During 2016. the company earned $62, 400 in cash revenues and paid $41, 808 for cash expenses. Also a $3, 500 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 2016 fiscal year. (Statement of Cash Flows only, items to be deducted must be indicated with a negative amount. Round your answers to the nearest whole dollar amount.)
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