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Check my work Required information [The following information applies to the questions displayed below) Milea Incorporated experienced the following events in Year 1, its first year of operations: 1. Received $20,000 cash from the issue of common stock 2. Performed services on account for $56,000. 3. Paid the utility expense of $2,500. 4. Collected $48,000 of the accounts receivable. 5. Recorded $10,000 of accrued salaries at the end of the year. 6. Paid a $2,000 cash dividend to the stockholders. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the Year 1 accounting period. Complete this question by entering your answers in the tabs below. Reg 81 Reg B2 Reg 3 Reg 54 Prepare the income statement for the Year 1 accounting period. statement of cash flows for the Year 1 accounting period. Complete this question by entering your answers in the tabs below. Req B1 Req B2 Req B3 Req B4 Prepare the income statement for the Year 1 accounting period. MILIA, INCORPORATED Income Statement For the Year Ended December 31, Year 1 Common stock $ 20,000 Expenses Accounts receivable $ 48,000 Total expenses (48,000) $ (28,000) Req B1 Req B2 > Complete this question by entering your answers in the tabs below. Req B1 Req B2 Req B3 Req B4 Prepare the statement of changes in stockholders' equity for the Year 1 accounting period. MILIA, INCORPORATED Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock $ O Ending common stock Beginning retained earnings 0 Ending retained earnings Total stockholders' equity $ 0 Chapter 2 Homework #1 Saved Hd 4 Required information Part 2 of 2 Req B1 Req B2 Req B3 Req B4 26 points Prepare the balance sheet for the Year 1 accounting period. MILIA, INCORPORATED Balance Sheet As of December 31, Year 1 ebook Assets Hint References $ 0 Total assets Liabilities $ 0 Total liabilities Stockholders' Equity 0 Total stockholders' equity Totallibilities and stockholders' equity $ 0 MC Graw Hill Check my work 4 Required information 2 of 2 . Reg 81 Req B2 Rea 83 Reg 14 Prepare the statement of cash flows for the Year 1 accounting period. (Enter cash outlows with a minus sign.) MILIA INCORPORATED Statement of Cash Flows For the Year Ended December 31, Yeart Cash flow from operating activities ook Het rences 5 Not cash flow from operating at Cash flow from westing activities Cash flow from financing activities 0 Net cash flow from financing activities Net change in cash 0 Ending cash balance $

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