[The following information applies to the questions displayed below.) Milea Inc. experienced the following events in Year 1, its first year of operations: 1. Received $14,500 cash from the issue of common stock. 2. Performed services on account for $45,000 3. Pald the utility expense of $1,250. 4. Collected $38,850 of the accounts receivable. 5. Recorded $9,150 of accrued salaries at the end of the year. 6. Paid a $850 cash dividend to the stockholders. b-1. Prepare the income statement. MILEA, INC. Income Statement For the Year Ended December 31, Year 1 Expenses Total expenses