Cascade Company was started on January 1, Year 1, when it acquired $160,000 cash from the owners. During Year 1, the company earned cash revenues of $93,300 and incurred cash expenses of $66,200. The company also paid cash distributions of $14,500. Required Prepare a Year 1 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.) Problem 8-20A (Algo) Part 5 c. Cascade is a corporation. It issued 8,000 shares of $9 par common stock for $160,000 cash to start the business