Cascade Company was started on January 1, Year 1, when it acquired $164,000 cash from the owners. During Year 1 , the company earned cash revenues of $88,500 and incurred cash expenses of $63,300. The company also paid cash distributions of $9,500. 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.) Cascade is a corporation. It issued 10,000 shares of $8 par common stock for $164,000 cash to start the business. te: For the Statement of Cash Flows only, indicate amounts to be deducted and cash outflows with a minus sign