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Astro Corporation was started with the issue of 5,900 shares of $8 par stock for cash on January 1, Year 1. The stock was issued
Astro Corporation was started with the issue of 5,900 shares of $8 par stock for cash on January 1, Year 1. The stock was issued at a market price of $18 per share. During Year 1, the company earned $66,950 in cash revenues and paid $44,857 for cash expenses, Also, a $3,800 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. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Balance Sheet Stmt of Cash Flows Prepare a statement of changes in stockholders' equity. ASTRO CORPORATION Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock Ending common stock Beginning retained earnings $ 0 Ending retained eamings Total stockholders' equity 0 $ 0 Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Stmt of Cash Balance Sheet Flows Prepare a balance sheet. Assets Total assets Liabilities Stockholders' equity ASTRO CORPORATION Balance Sheet As of December 31, Year 1 Total Paid-In Capital Total liabilities and stockholders' equity Income Stmt of Statement Balance Sheet: Changes Stmt of Cash Flows Prepare a statement of cash flows. (Cash outflows should be indicated with a minus sign.) ASTRO CORPORATION Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Net cash flow from operating activities Cash flows from investing activities: $ O Net cash flow from investing activities $ 0 Cash flows from financing activities: Net cash flow from financing activities Net change in cash 0 0 Ending cash balance $ 0
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