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Required information Problem 8-20A (Algo) Effect of business structure on financial statements LO 8-1 [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $167,000 cash from the owners. During Year 1, the company earned cash revenues of $82,300 and incurred cash expenses of $66,800. The company also paid cash distributions of $11,000. 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.) roblem 8-20A (Algo) Part c Cascade is a corporation. It issued 10,000 shares of $10 par common stock for $167,000 cash to start the business. Complete this question by entering your answers in the tabs below. Prepare a income statement for Year 1 . Prepare a statement of changes in stockholders' equity for Year 1. (Deductions should be indicated by a minus sign.) Complete this question by entering your answers in the tabs below. Prepare a balance sheet for Year 1. 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.)