prepare a income statement, statement of change, balance sheet, and statement of cash flow. Milea Incorporated experienced the following events in Year $1,$ its first year of operations:

Received $$14,000$ cash from the issue of common stock.

Performed services on account for $$45,000.$

Paid the utility expense of $$1,300.$

Collected $$33,000$ of the accounts receivable.

Recorded $$8,500$ of accrued salaries at the end of the year.

Paid a $$1,450$ cash dividend to the stockholders.