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Astro Corporation was started with the issue of 4,500 shares of $8 par stock for...

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Accounting

Astro Corporation was started with the issue of 4,500 shares of $8 par stock for cash on January 1, 2018. The stock was issued at a market price of $17 per share. During 2018, the company earned $72,000 in cash revenues and paid $48,240 for cash expenses. Also, a $3,700 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 2018 fiscal year.

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