! 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 $16,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,450. 4. Collected $39,820 of the accounts receivable. 5. Recorded $6,800 of accrued salaries at the end of the year. 6. Paid a $1,500 cash dividend to the stockholders. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the Year 1 accounting period. Answer is not complete. Complete this question by entering your answers in the tabs below. Req B1 Req B2 Req B3 Req B4 Prepare the income statement for the Year 1 accounting period. MILEA INC. Income Statement For the Year Ended December 31, Year 1 Revenue $ 45,000 Expenses Utilities expense $ 1,450 Salaries expense 6,800 Total expenses 8,250 $ 36,750 Net income Answer is not complete. Complete this question by entering your answers in the tabs below. Req B1 Req B2 Req B3 Req B4 Prepare the statement of changes in stockholders' equity for the Year 1 accounting period. MILEA INC. Statement of Changes in Stockholders' Equit For the Year Ended December 31, Year 1 Beginning common stock $ 0 Plus: Common stock issued 16,500 Ending common stock $ 16,500 Beginning retained earnings $ 0 Plus: Net income 36,750 Less: Dividend 1,500 Ending retained earnings 35,250 Total stockholders' equity $ 51,750 MILEA INC. Balance Sheet As of December 31, Year 1 Assets Total assets $ 0 Liabilities Total liabilities $ 0 Stockholders' Equity 0 Total stockholders' equity Total liabilities and stockholders' equity $ 0 MILEA INC. Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities $ O 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 Ending cash balance $ O