Required Information [The following Information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $155,000 cash from the owners. During Year 1, the company earned cash revenues of $91,700 and Incurred cash expenses of $63,800. 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.) c. Cascade is a corporation. It issued 10,000 shares of $10 par common stock for $155,000 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 balance sheet for Year 1. CASCADE COMPANY Balance Sheet Assets Cash As of December 31, Year 1 $ 169,400 Total Assets Liabilities Stockholders' equity Common stock Retained earnings 155,000 14,400 Total paid-in capital Total liabilities and Stockholders' equity $ 169,400 0 $ 169,400 $ 169,400 Required Information [The following Information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $155,000 cash from the owners. During Year 1, the company earned cash revenues of $91,700 and Incurred cash expenses of $63,800. 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.) c. Cascade is a corporation. It Issued 10,000 shares of $10 par common stock for $155,000 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: Receipts from revenues Paid for expenses Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities: Proceeds from issue of stock $ 0 Net cash flow from financing activities Net change in cash Plus: Beginning cash balance Ending cash balance 0 0 $ 0