[The following information applies to the questions displayed below.]

Cascade Company was started on January 1, 2018, when it acquired $169,000 cash from the owners. During 2018, the company earned cash revenues of $92,300 and incurred cash expenses of $63,200. The company also paid cash distributions of $6,000.

Required

Prepare a 2018 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.)

CASCADE COMPANY
Balance Sheet
As of December 31, 2018
Assets
Cashselected answer correct	not attempted
not attempted	not attempted
Total Assets		0
Liabilities		not attempted
Equity
Carl Cascade, capitalselected answer correct	not attempted	not attempted
not attempted	not attempted	not attempted
Total liabilities

CASCADE COMPANY
Balance Sheet
As of December 31, 2018
Assets
Cash	not attempted
	not attempted
Total Assets		0
Liabilities		not attempted
Equity
Carl Cascade, capitalt	not attempted	not attempted
	not attempted	not attempted
Total liabilities

B. Cascade is a partnership with two partners, Carl Cascade and Beth Cascade. Carl Cascade invested $101,400 and Beth Cascade invested $67,600 of the $169,000 cash that was used to start the business. Beth was expected to assume the vast majority of the responsibility for operating the business. The partnership agreement called for Beth to receive 60 percent of the profits and Carl to get the remaining 40 percent. With regard to the $6,000 distribution, Beth withdrew $1,800 from the business and Carl withdrew $4,200.

CASCADE COMPANY
Income Statement
For the Year Ended December 31, 2018
Revenues	not attempted
Expenses	not attempted
net income	$0

CASCADE COMPANY
Capital Statement
For the Year Ended December 31, 2018
Beginning capital balance	not attempted
Plus: Capital acquired from partners	not attempted
Plus: Net income	not attempted
Less: Withdrawal by partners	not attempted
Ending capital balances	$0

CASCADE COMPANY
Statement of Cash Flows
For the Year Ended December 31, 2018
Cash flow from operating activities:
Receipts from revenue	not attempted
Paid for expenses	not attempted
not attempted	not attempted
Net cash flow from operating activities		$0
Cash flows from investing activities		not attempted
Cash flows from financing activities:
Proceeds from partner	not attempted
Paid for partners withdrawal	not attempted
not attempted	not attempted
Net cash flow from financing activities		0
Net change in cash		0
Plus: Beginning cash balance		not attempted
Ending cash balance		$0

• CASCADE COMPANY
  Balance Sheet
  As of December 31, 2018
  Assets
  Cashselected answer correct	not attempted
  not attempted	not attempted
  Total Assets		0
  Liabilities		not attempted
  Equity
  not attempted	not attempted	not attempted
  Beth Cascade, capitalselected answer correct	not attempted	not attempted
  Carl Cascade, capitalselected answer correct	not attempted	not attempted
  Total liabilities and equity		$0