Cascade Company was started on January 1, Year 1, when it acquired $166,000 cash from the owners. During Year 1, the company earned cash revenues of $85,700 and incurred cash expenses of $64,500. The company also paid cash distributions of $8,000. 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.) Cascade is a corporation. It issued 9,000 shares of $11 par common stock for $166,000 cash to start the business.