Required information 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 $168,000 cash from the owners. During Year 1. the company earned cash revenues of $99,800 and incurred cash expenses of $60,100. The company also paid cash distributions of $9,500. 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.) roblem 8-20A (Algo) Part c Cascade is a corporation. It issued 10,000 shares of $11 par common stock for $168,000 cash to start the business. c. Cascade is a corporation. It issued 10,000 shares of $11 par common stock for $168,000 cash to start the business. Complete this question by entering your answers in the tabs below. Prepare a income statement for Year 1. Prepare a statement of changes in stockholders' equity for Year 1. (Deductions should be indicated by a minus sign. Required information CASCADE COMPANY Balance Sheet As of December 31, Year 1 Assets Total Assets Liabilities Stockholders' equity Total paid-in capital Total liabilities and Stockholders' equity (1) Required information CASCAUE UUMPANT 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 Cash flows from financing activities: \begin{tabular}{|l|l|} \hline & \\ \hline & \\ \hline \end{tabular} Net cash flow from financing activities Net change in cash Ending cash balance