Required information [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $160,000 cash from the owners. During Year 1 , the company earned cash revenues of $86,800 and incurred cash expenses of $62,100. The company also paid cash distributions of $13,500. 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.) a. Cascade is a sole proprietorship owned by Carl Cascade