The following information applies to the questions displayed below) Cascade Company was started on January 1, Year 1, when it acquired $60,000 cash from the owners. During Year 1, the company earned cash revenues of $35,000 and incurred cash expenses of $18,100. The company also paid cash distributions of $4,000 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) C.Cascade is a corporation. It issued 5,000 shares of $5 par common stock for $60,000 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 For the Year Ended December 31, Year 1 Inc Stmt Stmt of Changes Bal Sheet Cash Flows Prepare a statement of changes in stockholders' equity for Year 1. (Deductio CASCADE COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 $ 0 0 Total stockholders' equity $ 0 CASCADE COMPANY Balance Sheet As of December 31, Year 1 Assets $ 0 Total Assets Liabilities Stockholders' equity Total pald-in capital $ 0 Total liabilities and Stockholders' equity $ 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