Astro Corporation was started with the issue of 5,100 shares of $11 par stock for cash on January 1, 2018. The stock was issued at a market price of $16 per share. During 2018, the company earned $68,550 in cash revenues and paid $45,929 for cash expenses. Also, a $3,000 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 2018 fiscal year.

ASTRO CORPORATION Income Statement For the Year Ended December 31, 2018 Revenues $ Expenses Net income $ 68,550 45,929 22,621 $ ASTRO CORPORATION Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2018 Beginning common stock $ 56,100 Less: Issuance of common stock 56,100 Ending common stock $ 112,200 Beginning retained earnings Plus: Net income 22.621 Less: Dividend 3,000 Ending retained earnings 19,621 Total stockholders' equity $ 131,821 ASTRO CORPORATION Balance Sheet As of December 31, 2018 Assets Cash $ 68,550 Cash (45,929) Total assets Liabilities Stockholders' equity Common stock $ 112,200 Paid-in capital in excess of stated value (3,000) Retained earnings Total Paid-In Capital $ 22,621 109,200 Total liabilities and stockholders' equity $ 109,200 Prepare a statement of cash flows. (Negative amounts should be indicated by a minus sign.) ASTRO CORPORATION Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: Receipts from revenues $ 68,550 Paid for expenses (45.929) Net cash flow from operating activities Cash flows from investing activities $ 22,621 $ 0 Net cash flow from investing activities Cash flows from financing activities Proceeds from issue of stock Paid for dividends Net cash flow from financing activities Net change in cash 81,600 (3.000) 78,600 101,221 Ending cash balance $ 101,221