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 $12,000 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,150. 4. Collected $32,100 of the accounts receivable. 5. Recorded $7,150 of accrued salaries at the end of the year. 6. Paid a $1,450 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 Req B2 Req B3 Req B4 Prepare the income statement for the Year 1 accounting period. MILEA INC. Income Statement For the Year Ended December 31, Year 1 Expenses Total expenses 0 $ 0 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 Req B2 Reg B3 Reg B4 Prepare the statement of changes in stockholders' equity for the Year 1 accounting period. MILEA INC. Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock $ 0 Ending common stock Beginning retained earnings 0 Ending retained earnings Total stockholders' equity $ 0 Prepare the balance sheet for the Year 1 accounting period. MILEA INC. Balance Sheet As of December 31, Year 1 Assets Total assets $ 0 Liabilities Total liabilities $ 0 Stockholders' Equity 0 Total stockholders' equity Total liabilities and stockholders' equity $ 0 Prepare the statement of cash flows for the Year 1 accounting period. (Enter cash outflows with a minus sign.) MILEA INC. Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities $ 0 Net cash flow from operating activities Cash flow from investing activities Cash flow from financing activities 0 Net cash flow from financing activities Net change in cash 0 Ending cash balance $ 0