Cascade Company was started on January 1, Year 1, when it acquired $152,000 cash from the owners. During Year 1, the company earned cash revenues of $80,700 and incurred cash expenses of $68,400. The company also paid cash distributions of $6,500. 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.)

c. Cascade is a corporation. It issued 10,000 shares of $9 par common stock for $152,000 cash to start the business. (Amounts to be deducted should be indicated with minus sign.)

CASCADE COMPANY
Income Statement
For the Year Ended December 31, Year 1

CASCADE COMPANY
Statement of Changes in Stockholders Equity
For the Year Ended December 31, Year 1
Total stockholders equity

CASCADE COMPANY
Balance Sheet
As of December 31, Year 1
Assets
Total Assets
Liabilities
Stockholders equity
Total paid-in capital
Total liabilities and Stockholders equity

CASCADE COMPANY
Statement of Cash Flows
For the Year Ended December 31, Year 1
Cash flow from operating activities:
Net cash flow from operating activities
Cash flows from investing activities
Cash flows from financing activities:
Net cash flow from financing activities
Net change in cash
Ending cash balance