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 $165,000 cash from the owners. During Year 1 , the company earned cash revenues of $81,700 and incurred cash expenses of $61,100. The company aiso paid cash distributions of $6,000. 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 c. Cascade is a corporation. It issued 9,000 shares of $11 par common stock for $165,000 cash to start the business. 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 Stmt of Changes Rrey. 6c of 9 Prepare a statement of cash flows for Year 1. (Cash outflows should be indicated with a 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 $165,000 cash from the owners. During Year 1 , the company earned cash revenues of $81,700 and incurred cash expenses of $61,100. The company aiso paid cash distributions of $6,000. 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 c. Cascade is a corporation. It issued 9,000 shares of $11 par common stock for $165,000 cash to start the business. 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 Stmt of Changes Rrey. 6c of 9 Prepare a statement of cash flows for Year 1. (Cash outflows should be indicated with a