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Cascade Company was started on January 1, Year 1, when it acquired $168,000 cash from the owners. During Year 1, the company earned cash revenues of $96,300 and incurred cash expenses of $61,800. The company also paid cash distributions of $12,000. 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 11,000 shares of $11 par common stock for $168,00

CASCADE COMPANY
Income Statement
For the Year Ended December 31, Year 1
	$0

CASCADE COMPANY
Statement of Changes in Stockholders Equity
For the Year Ended December 31, Year 1
		0
		0
Total stockholders equity		$0

CASCADE COMPANY
Balance Sheet
As of December 31, Year 1
Assets
Total Assets		0
Liabilities
Stockholders equity
Total paid-in capital		$0
Total liabilities and Stockholders equity		$0

CASCADE COMPANY
Statement of Cash Flows
For the Year Ended December 31, Year 1
Cash flow from operating activities:
Net cash flow from operating activities		$0
Cash flows from investing activities
Cash flows from financing activities:
Net cash flow from financing activities		0
Net change in cash		0
Ending cash balance		$0