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Astro Corporation was started with the issue of 2,000 shares of $5 par stock for...

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Accounting

Astro Corporation was started with the issue of 2,000 shares of $5 par stock for cash on January 1, Year 1. The stock was issued at a market price of $12 per share. During Year 1, the company earned $31,000 in cash revenues and paid $17,100 for cash expenses. Also, a $2,000 cash dividend was paid to the stockholders.

Required

Prepare an income statement, statement of changes in stockholders equity, balance sheet, and statement of cash flows for Astro Corporations Year 1 fiscal year.

ASTRO CORPORATION
Statement of Changes in Stockholders Equity
For the Year Ended December 31, Year 1
Beginning common stock
Ending common stock $0
Beginning retained earnings
Ending retained earnings 0
Total stockholders equity $0

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