Prepare a income statement, statement of changes in stockholders' equity, balance sheet, and statement of flow. Milea Incorporated experienced the following events in Year $1,$ its first year of operations:

Received $$13,500$ cash from the issue of common stock.

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

Paid the utility expense of $$1,500.$

Collected $$39,980$ of the accounts receivable.

Recorded $$7,800$ of accrued salaries at the end of the year.

Paid a $$1,050$ cash dividend to the stockholders.