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Required information [The following information applies to the questions displayed below] Milea Incorporated experienced the following events in Year 1, its first year of operations:

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Required information [The following information applies to the questions displayed below] Milea Incorporated 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 $1,200. 4. Collected $37,060 of the accounts receivable. 5 . Recorded $6,950 of accrued salaries at the end of the year. 6. Paid a $1,000 cash dividend to the stockholders. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the Year 1 accounting period

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