Problem: Module 3 Textbook Problem 11 Learning Objectives: .3-9 Identify the primary characteristics of sole proprietorships, partnerships, and corporations .3-12 Show how issuing different classes of stock affects financial statements Astro Corporation was started with the issue of 5,500 shares of $11 par stock for cash on January 1, Year 1. The stock was issued at a market price of $17 per share. During Year 1, the company earned $64,350 in cash revenues and paid $43,115 for cash expenses. Also, a $4,200 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Stmt of Cash Balance Sheet Flows Prepare the income statement. ASTRO CORPORATION Income Statement For the Year Ended December 31, Year 1 $ 0 Income Statement Stmt of Changes Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Balance Sheet Stmt of Cash Flows Prepare a statement of changes in stockholders' equity. ASTRO CORPORATION Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock Ending common stock Beginning retained earnings $ 0 Ending retained eamings Total stockholders' equity 0 $ 0 Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Balance Sheet Stmt of Cash Flows Prepare a balance sheet. ASTRO CORPORATION Balance Sheet As of December 31, Year 1 Assets Total assets Liabilities Stockholders' equity Total Paid-In Capital Total liabilities and stockholders' equity $ 0 0 $ 0 < Prev 11 of 20 Next > Complete this question by entering your answers in the tabs below. Income: Statement Stmt of Changes Balance Sheet Stmt of Cash Flows Prepare a statement of cash flows. (Cash outflows should be indicated with a minus sign.) ASTRO CORPORATION Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Net cash flow from operating activities Cash flows from Investing activities: Net cash flow from investing activities Cash flows from financing activities: Net cash flow from financing activities Net change in cash Ending cash balance $ 0 $ 0 0 0 $ 0 < Balance Sheet Stmt of Cash Flows > < Prev 11 of 20 Next >