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Required information [The following information applies to the questions displayed below.] Milea Incorporated experienced the...

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Accounting

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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 $13,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,300. 4. Collected $36,580 of the accounts receivable. 5. Recorded $7,200 of accrued salaries at the end of the year. 6. Paid a $1,250 cash dividend to the stockholders. Required: a. Record the events in accounts under an accounting equation. In the last column of the table, provide appropriate account titles for the Retained Earnings amounts. The first transaction has been recorded as an example. Note: Enter any decreases to account balances with a minus sign. Not all cells require an input - leave cells blank if there is no corresponding Retained Earnings input needed. b-1. Prepare the income statement. b-2. Prepare the statement of chanqes in stockholders' equity. b-3. Prepare the balance sheet. b-4. Prepare the statement of cash flows for the Year 1 accounting period. Note: Amounts to be deducted and cash outflows should be indicated with a minus sign

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