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Required information Problem 8-20A (Algo) Effect of business structure on financial statements LO 8-1 [The following information applies to the questions displayed below.) Cascade Company was started on January 1, Year 1, when it acquired $156,000 cash from the owners. During Year 1, the . company earned cash revenues of $89,200 and incurred cash expenses of $69,200. The company also paid cash distributions of $14,500. 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.) Problem 8-20A (Algo) Part c. Cascade is a corporation. It issued 8,000 shares of $10 par common stock for $156,000 cash to start the business. Problem 8-20A (Algo) Part C. Cascade is a corporation. It issued 8,000 shares of $10 par common stock for $156,000 cash to start the business. Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a income statement for Year 1. CASCADE COMPANY Income Statement For the Year Ended December 31, Year 1 $ 0 Stmt of Changes Complete this question by entering your answers in the tabs below. Stmt of Inc Stmt Bal Sheet Cash Flows Changes Prepare a statement of changes in stockholders' equity for Year 1. (Deductions should be indicated by a minus sign.) CASCADE COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 0 0 Total stockholders' equity $ 0 Inc Stmt Bal Sheet> Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a balance sheet for Year 1. CASCADE COMPANY Balance Sheet As of December 31, Year 1 Assets 0 Total Assets Liabilities Stockholders' equity Total paid-in capital $ 0 Total liabilities and Stockholders' equity Stmt of Changes Cash Flows> Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a statement of cash flows for Year 1. (Cash outflows should be indicated with a minus sign.) CASCADE COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: 0 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities: 0 Net cash flow from financing activities Net change in cash 0 Ending cash balance $ 0