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Astro Corporation was started with the issue of 5,400 shares of $9 par stock for cash on January 1 , Year 1 . The stock
Astro Corporation was started with the issue of 5,400 shares of $9 par stock for cash on January 1 , Year 1 . The stock was issued at a narket price of $15 per share. During Year 1, the company earned $69,800 in cash revenues and paid $46,766 for cash expenses. Ilso, a $3,600 cash dividend was paid to the stockholders. Required 'repare 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 the income statement. Prepare a statement of changes in stockholders' equity. Prepare a balance sheet. Prepare a statement of cash flows. Note: Cash outflows should be indicated with a minus sign
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