! 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 $15,000 cash from the issue of common stock 2. Performed services on account for $45,000 3. Paid the utility expense of $1,200. 4. Collected $35,230 of the accounts receivable, 5. Recorded $7,100 of accrued salaries at the end of the year, 6. Paid a $1,350 cash dividend to the stockholders. es 2 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 $15,000 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,200. 4. Collected $35,230 of the accounts receivable. 5. Recorded $7,100 of accrued salaries at the end of the year. 6. Paid a $1,350 cash dividend to the stockholders. mt onces b-1. Prepare the income statement MILEA INC Income Statement For the Year Ended December 31, Year 1 Expenses