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Astro Corporation was started with the issue of 5,300 shares of $9 par stock for cash on January 1, Year 1. The stock was issued

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Astro Corporation was started with the issue of 5,300 shares of $9 par stock for cash on January 1, Year 1. The stock was issued at a market price of $16 per share. During Year 1 , the company earned $63,900 in cash revenues and paid $42,813 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 Year 1 fiscal year. Prepare a balance sheet. repare a statement of cash flows. (Cash outflows should be indicated with a minus sign.)

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