b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash fio Year 1 accounting period. Complete this question by entering your answers in the tabs below. Prepare the statement of changes in stockholders' equity for the Year 1 accounting period. Exercise 2-3A (Algo) Effect of accruals on the financial statements LO 2-1, 2-2, 2-3 [The following information applies to the questions displayed below] Milea Incorporated experienced the following events in Year 1, its first year of operations: 1. Recelved $15,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,050. 4. Collected $35,610 of the accounts receivable. 5. Recorded $9,900 of accrued salaries at the end of the year. 6. Paid a $1,100 cash dividend to the stockholders. Exercise 2-3A (Algo) Part b Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for th Year 1 accounting period. Complete this question by entering your answers in the tabs below. Prepare the income statement for the Year 1 accounting period. Prepare the balance sheet for the Year 1 accounting period. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows fi Year 1 accounting period. Complete this question by entering your answers in the tabs below. Prepare the income statement for the Year 1 accounting period. Prepare the statement of cash flows for the Year 1 accounting period. (Enter cash outflows with a minus sign.)