Required information [The following information applies to the questions displayed below] Cascade Company was started on January 1, Year 1, when it acquired $60,000 cash from the owners. During Year 1 , the company earned cash revenues of $35,000 and incurred cash expenses of $18,100. The company also paid cash distributions of $4.000. 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 foliowing assumptions. (Consider each assumption stparately.) c. Cascade is a corporation. It issued 5,000 shares of $5 par common stock for $60,000 cash to start the business: Complete this question by entering your answers in the tabs below. Prepare a income statement for Year 1 . c. Cascade is a corporation. It issued 5,000 shares of $5 par commo Complete this question by entering your answers in the tabs b Prepare a income statement for Year 1. c. Cascade is a corporation. It issued 5,000 shares of $5 par common stock for $60,00 Complete this question by entering your answers in the tabs below. Prepare a statement of changes in stockholders' equity for Year 1. (Deductions should be c. Cascade is a corporation. It issued 5,000 shares of $5 par common stock for $60,000 cash Complete this question by entering your answers in the tabs below. Prepare a balance sheet for Year 1 . Prepare a statement of cash flows for Year 1 . (Cash outflows should be indicated with a minus sig