Cascade Company was started on January 1, 2018, when it acquired $168,000 cash from the owners. During 2018, the company earned cash revenues of $87,000 and incurred cash expenses of $69,200. The company also paid cash distributions of $8,000.

Required

Prepare a 2018 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.)

Cascade is a corporation. It issued 10,000 shares of $11 par common stock for $168,000 cash to start the business.

Prepare a income statement for 2018.

CASCADE COMPANY
Income Statement
For the Year Ended December 31, 2018

Prepare a statement of changes in stockholders equity for 2018. (Negative amount should be indicated by a minus sign.)

CASCADE COMPANY
Statement of Changes in Stockholders Equity
For the Year Ended December 31, 2018
		0
		0
Total stockholders equity

Prepare a balance sheet for 2018.

CASCADE COMPANY
Balance Sheet
As of December 31, 2018
Assets
Total Assets		0
Liabilities
Stockholders equity
Total paid-in capital		$0
Total liabilities and Stockholders equity		$0

Prepare a statement of cash flows for 2018. (Negative amount and deductible amount should be indicated by a minus sign.)

CASCADE COMPANY
Statement of Cash Flows
For the Year Ended December 31, 2018
Cash flow from operating activities:
Net cash flow from operating activities		$0
Cash flows from investing activities
Cash flows from financing activities:
Net cash flow from financing activities		0
Net change in cash		0
Ending cash balance		$0