WW7SI001LAB031 ework Required information Problem 11-22A Effect of business structure on financial statements LO 11-1 The following information applies to the questions displayed below. Cascade Company was started on January 1, Year 1 when it acquired $169.000 cash from the owners. During Year 2, the company eaned cash revenues of $89,500 and incurred cash expenses of $64,600. The company also paid cash distributions of $10,000. 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 11-22A Part c c. Cascade iIs a corporation. It issued 11.000 shares of $10 par common stock for $169.000 cash to start the business. (Amounts to be deducted should be indicated with minus sign.) Income Statement For the Year Ended