Required information. [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $60,000 cash from the owners. During Year 1, the company earned cash revenues of $35,000 and incurred cash expenses of $18,100. The company also paid cash distributions of $4,000 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.) c. Cascade is a corporation. It issued 5,000 shares of $5 par common stock for $60,000 cash to start the business. Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a statement of changes in stockholders' equity for Year 1. (Deductions should be indicated by a minus sign.) CASCADE COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 $ 0 S < Prev 4 of 7 Next > c. Cascade is a corporation. It issued 5,000 shares of $5 par common stock for $60,000 cash to start the business. 8 Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a balance sheet for Year 1. CASCADE COMPANY Balance Sheet As of December 31, Year 1 Assets Total Assets Liabilities Stockholders' equity Total paid-in capital $ 0 $ 0 Total liabilities and Stockholders' equity $ 0 c. Cascade is a corporation. It issued 5,000 shares of $5 par common stock for $60,000 cash to start the business Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a statement of cash flows for Year.1. (Cash outflows should be indicated with a minus sign.) CASCADE COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities: Net cash flow from financing activities Net change in cash Ending cash balance $ 0 01 0 0 $ 0 < Bal Sheet Cash Flows >