Hint: Remember this is the first year of operations ie Retained earnings equals " O " to begin. Determine the net income first by completing the income statement below. Next, find ending retained earnings by completing the retained earnings statement below. Finally, solve for cash by adding up all the assets and subtracting this figure from the sum of Liabilities plus owners equity. Cassandra Corporation began operations on January 1, Year 1, as an online retailer of computer software and hardware. The following financial statement data were taken from Cassandra's records at the end of its first year of operations, December 31 , Year 1 . Cassandra Corporation Income Statement For the Year Ended December 31, 2011 Revenues: Expenses: Net income Cassandra Retained Earnings Statement For the Year Ended December 31, 2011 Retained earnings, January 1, 2011 Retained earnings, December 31,2011 Cassandra Balance Sheet December 31, 2011 Assets Total assets Liabilities Total liabilities Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Statement of Cash Flows For the Year Ended December 31, 2011 Cash flows from operating activities: Net cash flows from operating activities Cash flows from investing activities: Cash flows from financing activities: Net cash flows from financina activities Cash flows from financing activities: Net cash flows from financing activities Net increase in cash during 2011 Cash as of January 1,2011 Cash as of December 31,2011