[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 $13,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,400 4. Collected $39,700 of the accounts receivable. 5. Recorded $6,950 of accrued salaries at the end of the year. 6. Paid a $1,000 cash dividend to the stockholders. b-1. Prepare the income statement. MILEA, INC. Income Statement For the Year Ended December 31, Year 1 Expenses Salaries expense Utility expense $ 6,950 1,400 Total expenses (8,350)