Milea Inc. experienced the following events in Year 1, its first year of operations: Received $14,500 cash from the issue of common stock. Performed services on account for $45,000. Paid the utility expense of $1,250. Collected $32,380 of the accounts receivable. Recorded $8,700 of accrued salaries at the end of the year. Paid a $900 cash dividend to the stockholders.

Balance Sheet As of December 31, Year 1 Assets Cash Accounts receivable Total assets Liabilities Salaries payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity MILEA, INC. Statement of Cash Flows Statement of con 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 $ 0