Required information (The following information applies to the questions displayed below.] Cascade Company was started on January 1. Year 1, when it acquired $167.000 cash from the owners. During Year 1, the company earned cash revenues of $90,800 and incurred cash expenses of $60,300. The company also paid cash distributions of $6,000. 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.) ces c. Cascade is a corporation. It issued 10,000 shares of $10 par common stock for $167,000 cash to start the business. (Amounts to be deducted should be indicated with minus sign.) CASCADE COMPANY Income Statement For the Year Ended December 31, Year 1