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Astro Corporation was started with the issue of 5.500 shares of 511 par stock for cash on January 1, Year 1. The stock was issued
Astro Corporation was started with the issue of 5.500 shares of 511 par stock for cash on January 1, Year 1. The stock was issued at a market price of $19 per share. During Year 1, the company eamed $68,000 in cash revenues and paid $45,560 for cash expenses Also, a $4,400 cash divend was paid to the stockholders: Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash fiows, for Astro Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare the income statement. Complete this question by entering your answers in the tabs below. Prepare a statement of changes in stockholders' equity. Complete this question by entering your answers in the tabs below. Prepare a balance sheet. Prepare a statement of cash flows. (Cash outflows should be indicated with a minus sign.)
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