Required information [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $162,000 cash from the owners. During Year 1, the company eamed cash revenues of $90,900 and incurred cash expenses of $60,800. The company also paid cash distributions of $10,500. 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 10.000 shares of $10 par common stock for $162.000 cash to start the business. Complete this question by entering your answers in the tabs below. Prepare a income statement for Year 1. Required information [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $162,000 cash from the owners. During Year 1, the company earned cash revenues of $90,900 and incurred cash expenses of $60,800. The company also paid cash distributions of $10,500. 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 10,000 shares of $10 par common stock for $162,000 cash to start the business. 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 indicated by a minus sign.) Required information [The following information applies to the questions displayed below] Cascade Company was started on January 1, Year 1, when it acquired $162,000 cash from the owners. During Year 1, the company eamed cash revenues of $90,900 and incurred cash expenses of $60,800. The company also paid cash distributions of $10,500. 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 10,000 shares of $10 par common stock for $162,000 cash to start the business. Complete this question by entering your answers in the tabs below. Prepare a balance sheet for Year 1 . Cascade Company was started on January 1, Year 1, when it acquired $162,000 cash from the owners. During Year 1, the company earned cash revenues of $90,900 and incurred cash expenses of $60,800. The company also paid cash distributions of $10,500. Required Prepare a Year 1 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash fiows under each of the following assumptions. (Consider each assumption separately.) Cascade is a corporation. It issued 10,000 shares of $10 par common stock for $162,000 cash to start the business. Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for Year 1. (Cash outflows should be indicated with a minus sign.)