Required Information [The following information applies to the questions displayed below.] Milles Inc. experienced the following events in Year 1, its first year of operations: 1. Received $16,000 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 $35,830 of the accounts receivable. 5. Recorded $5,600 of accrued salaries at the end of the year. 6. Paid a $1,000 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. Complete this question by entering your answers in the tabs below. Req B1 Req B2 Req B3 Req B4 Prepare the balance sheet for the Year 1 accounting period. MILEA INC. Balance Sheet As of December 31, Year 1 Assets Cash Accounts receivable Total assets Liabilities Salaries payable 0 Total liabilities $ 0 Stockholders' Equity