The following information applies to the questions displayed below.) Cascade Company was started on January 1. Year 1, when it acquired $168,000 cash from the owners. During Year 1, the company earned cash revenues of $85,400 and incurred cash expenses of $64,200. The company also paid cash distributions of $7,000 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.) Problem 8-20A (Algo) Part c. Cascade is a corporation. It issued 10,000 shares of $9 par common stock for $168,000 cash to start the business. Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a income statement for Year 1. CASCADE COMPANY Income Statement c. Cascade is a corporation. It issued 10,000 shares of $9 par common stock for $168,000 Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a income statement for Year 1. CASCADE COMPANY Income Statement For the Year Ended December 31, Year 1 $ 0 Inc stmt Stmt of Changes > c. Cascade is a corporation. It issued 10,000 shares of $9 par common stock for $168,000 cash to start the business. Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a statement of changes in stockholders' equity for Year 1. (Deductions should be indicated by a minus sign.) CASCADE COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 0 0 Total stockholders' equity $ Cinc Stmt Bal Sheet > Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a balance sheet for Year 1. CASCADE COMPANY Balance Sheet As of December 31, Year 1 Assets cos Total Assets Liabilities Stockholders' equity Total paid-in capital $ 0 Total liabilities and Stockholders' equity $ 0 Stmt of changes Cash Flows Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a statement of cash flows for Year 1. (Cash outflows should be indicated with a minus si CASCADE COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: $ 0 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities: Net cash flow from financing activities Net change in cash 0 0 Ending cash balance $ Rollshant CASE