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Required information [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $153,000 cash from the owners. During Year 1, the company earned cash revenues of $80,800 and incurred cash expenses of $63,100. The company also paid cash distributions of $10,500. 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 8,000 shares of $9 par common stock for $153,000 cash to start the business. Complete this question by entering your answers in the tabs below. Prepare a income statement for Year 1. Complete this question by entering your answers in the tabs below. Prepare a statement of changes in stockholders' equity for Year 1. (Deductions should be indicated by a minus sign.) Complete this question by entering your answers in the tabs below. Prepare a balance sheet for Year 1 . Prepare a statement of cash flows for Year 1. (Cashloutflows should be indicated with a minus sign.)