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 $14,000 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,350. 4. Collected $38,780 of the accounts receivable. 5. Recorded $5,250 of accrued salaries at the end of the year. 6. Paid a $1,500 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 Cash Expenses Req B2 Req B3 Prepare the income statement for the Year 1 accounting period. Total expenses Req B4 MILEA INC. Income Statement For the Year Ended December 31, Year 1

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 $14,000 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,350. 4. Collected $38,780 of the accounts recelvable. 5. Recorded $5,250 of accrued salaries at the end of the year. 6. Paid a $1,500 cash dividend to the stockholders. 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. Prepare the income statement for the Year 1 accounting period