Required Information [The following information applles to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $155,000 cash from the owners. During Year 1, the company earned cash revenues of $91,700 and Incurred cash expenses of $63,800. The company also pald cash distributions of $13,500. Required Prepare a Year 1 income statement, capltal statement (statement of changes in equity), balance sheet, and statement of cash flows 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 $155,000 cash to start the business. Complete this question by entering your answers in the tabs below. Prepare a balance sheet for Year 1 . Required Information [The following information applles to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $155,000 cash from the owners. During Year 1, the company earned cash revenues of $91,700 and Incurred cash expenses of $63,800. The company also pald cash distributions of $13,500. Required Prepare a Year 1 Income statement, capltal 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 $155,000 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.)