Required information Problem 11-22A (Algo) Effect of business structure on financial statements L0 11-1 [The following information applies to the questions displayed below] Cascade Company was started on January 1, Year 1, when it acquired $169,000 cash from the owners. During Year 2, the company earned cash revenues of $92,700 and incurred cash expenses of $63,600. The company also paid cash distributions of $13,000. Required Prepare a Year 1 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each ofthe following assumptions (Consider each assumption separately.) Problem 11-22A (Algo) Part c c-1. Prepare a Year 1 income statement c-2. Prepare a Year 1 capital statement (statement of changes in equity). c-3. Prepare a Year1 balance sheet c-4. Prepare a Year 1 statement of cash flows' Assume Cascade is a corporation' It issued 11,000 shares of $11 par common stock for $169,000 cash to start the business Req C1 Req C2 Req C3 Req C4 Prepare a Year 1 income statement. Assume Cascade is a corporation. It issued 11,000 shares of $11 par common stock for $169,000 cash to start the business. CASCADE INCORPORATED Income Statement For the Year Ended December 31, Year 1 Revenues Expenses Net income $ 0Req C1 Req C2 Req C3 Req C4 Prepare a Year 1 capital statement (statement of changes in equity). Assume Cascade is a corporation. It issued 11,000 shares of $11 par common stock for $169,000 cash to start the business. (Enter amounts to be deducted with a minus sign.) 'eginning common stock Total stockholders' equity Req C4 Prepare a Year 1 balance sheet. Assume Cascade is a corporation. It issued 11,000 shares of $11 par common stock for $169,000 cash to start the business. _ Total liabilities and Stockholders' equity _ $ Req C1 Req C2 Req C3 Req C4 Prepare a Year 1 statement of cash flows. Assume Cascade is a corporation. It issued 11,000 shares of $11 par common stock for $169,000 cash to start the business. (Enter cash outflows with a minus sign.) CASCADE INCORPORATED Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Net cash flow from operating activities 0 Cash flows from investing activities Cash flows from financing activities: Net cash flow from financing activities Net change in cash 0 Ending cash balance EA 0