Required information [The following information applies to the questions displayed below.] Milea 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 $1,100. 4. Collected $30,610 of the accounts receivable. 5. Recorded $7,850 of accrued salaries at the end of the year. 6. Paid a $1,250 cash dividend to the stockholders. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and Year 1 accounting period.