Required information Problem 8-20 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, 2018, when it acquired $60,000 cash from the owners. During 2018, the company earned cash revenues of $35,000 and incurred cash expenses of $18,100. The company also paid cash distributions of $4,000. Required Prepare a 2018 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.) Complete this question by entering your answers in the tabs below. Inc Stmt Cap Stmt Bal Sheet Cash Flows Prepare an income statement for 2018 CASCADE COMPANY Income Statement For the Year Ended December 31, 2018 Complete this question by entering your answers in the tabs below. Inc Stmt Cap Stmt Bal Sheet Cash Flows Prepare a capital statement (statement of changes in equity) for 2018. (Negative amount and deductible amount should be indicated by a minus sign.) CASCADE COMPANY Capital Statement For the Year Ended December 31, 2018 Complete this question by entering your answers in the tabs below. Inc Stmt Cap Stmt Bal Sheet Cash Flows Prepare a balance sheet for 2018. CASCADE COMPANY Balance Sheet As of December 31, 2018 Assets Cash S72900 Total Assets Liates Equity Carl Cascade, capital Carl Cascade, capital Total liabilities and equity 72.900 Complete this question by entering your answers in the tabs below. Inc Stmt Cap Stmt Bal Sheet Cash Flows Prepare a statement of cash flows for 2018. (Negative amount and deductible amount should be indicated by a minus sign.) CASCADE COMPANY Statement of Cash Flows For the Year Ended December 31, 2018 Cash flow from operating activities: Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities: Net cash flow from financing activities