Required information [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $163.000 cash from the owners. During Year 1, the company earned cash revenues of $85,400 and incurred cash expenses of $64,100. The company also paid cash distributions of $11,500. 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 9,000 shares of $9 par common stock for $163,000 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 As of December 31, Year 1 Assets Cash 172800 172,800 Total Assets Liabilities Stockholders' equity Common stock Dividends payable $ 0 Total paid-in capital Paid-in capital in excess of cost Total liabilities and Stockholders' equity $ 0 Stmt of Changes Cash Flows > Required information [The following information applies to the questions displayed below.) Cascade Company was started on January 1. Year 1, when it acquired $163,000 cash from the owners. During Year 1, the company earned cash revenues of $85,400 and incurred cash expenses of $64,100. The company also paid cash distributions of $11,500. 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 9,000 shares of $9 par common stock for $163,000 cash to start the business Complete this question by entering your answers in the tabs below. Stmt of Inc Stmt 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: $ 0 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities: 0 Net cash flow from financing activities Net change in cash 0 Ending cash balance $ 0 Bal Sheet Cash Flow