! Required information (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 $13,500 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 $35,500 of the accounts receivable. 5. Recorded $9,000 of accrued salaries at the end of the year. 6. Paid a $800 cash dividend to the stockholders. b-1. Prepare the income statement. MILEA INC. Income Statement For the Year Ended December 31, Year 1 Expenses Total expenses 0 $ 0 b-2. Prepare the statement of changes in stockholders' equity. of 2 MILEA INC. Statement of Changes in Stockholdere Equity For the Year Ended December 31, Yoar 1 Beginning common stock 0 Ending common stock Beginning retained earnings ook int 0 Ending retained earnings Total stockholders' equity $ 0 rint D erences b-3. Prepare the balance sheet. MILEA INC Balance Sheet As of December 31, Year 1 Assets Total assets Liabilities $ 0 Total liabilities Stockholders' Equity $ 0 Total stockholders' equity Total liabilities and stockholders' equity 0 5 0 6 4. Prepare the statement of cash flows for the Year 1 accounting period. (Amounts to be deducted and cash outflows should be indicated with a minus sign.) MILEA INC Statement of Cash Flows For the Year Ended December 31. Year 1 Cash flow from operating activities $ 0 Net cash flow from operating activities Cash flow from investing activities Cash flow from financing activities 0 Net cash flow from financing activities Net change in cash 0 $ 0 Ending cash balance