Milea Inc. experienced the following events in Year 1, its first year of operations: 1. Received $13,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,300. 4. Collected $36,990 of the accounts receivable. 5. Recorded $7,850 of accrued salaries at the end of the year. 6. Paid a $1,350 cash dividend to the stockholders. RB1 Req B2 Req B3 Req B4 Req B1 Prepare the income statement for the Year 1 accounting period. MILEA INC. Income Statement For the Year Ended December 31, Year 1 Expenses Total expenses S 0 0 Req B1 Req B2 Req B3 Req B4 Prepare the statement of changes in stockholders' equity for th MILEA INC. Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity $ 0 S 0 0 Req B1 Req B2 Req B3 Req B4 Prepare the balance sheet for the Year 1 accounting period. MILEA INC. Balance Sheet As of December 31, Year 1 Assets Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity S S 0 10 0 0 0 Req B1 Req B2 Req B3 Req B4 Prepare the statement of cash flows for the Year 1 accounting period. MILEA INC. Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities Net cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Net cash flow from financing activities Net change in cash Ending cash balance S 0 11473 00 lo 0