Required information Exercise 2-3A Effect of accruals on the financial statements LO 2-1, 2-2, 2-3 (The following information applies to the questions displayed below. Milea Inc. experienced the following events in Year 1, its first year of operations: 1. Received $15,500 cash from the issue of common stock 2. Performed services on account for $45,000 3. Paid the utility expense of $1,100. 4. Collected $35,530 of the accounts receivable. 5. Recorded $6,550 of accrued salaries at the end of the year 6. Paid a $1,050 cash dividend to the stockholders. Exercise 2-3A Part b b-1. Prepare the income statement. MILEA, INC. Income Statement For the Year Ended December 31, Year 1 IMG 2187 JPG ..pdf Staples Scan.pdf Scientic lilust....docx PXO MacBook Air & Prob i Saved Required information of 2 b-2. Prepare the statement of changes in stockholders' equity. MILEA, INC. Statement of Changes in Stockholders' Equity ook For the Year Ended December 31, Year 1 Beginning common stock nt Plus: Common stock issued 15,500 int Ending common stock Beginning retained eanings $ 15,500 ences S 0 Plus: Net income Less: Dividend Ending retained eamings 1,050 (1,050) $ 14,450 Total stockholders' equity Ne of 4 IMG 2187.JPG Lizeth Staples Scan.pdf Scientic Illust....docx -pdf A A MacBook Air 4 FT O00 FA F5 F3 no