Cascade Company was started on January 1. Year 1, when it acquired $165,000 cash from...
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Cascade Company was started on January 1. Year 1, when it acquired $165,000 cash from the owners. During Year 1, the company earned cash revenues of $87100 and incurred cash expenses of $62,200. The company also paid cash distributions of $8,000 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 8-20A (Algo) Part c. Cascade is a corporation. It issued 10,000 shares of $9 par common stock for $165,000 cash to start the business. Complete this question by entering your answers in the tabs below. Stmt of Inc Stmt Bal Sheet Cash Flows Changes Prepare a income statement for Year 1. CASCADE COMPANY Income Statement For the Year Ended December 31, Year 1 0
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