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Required information [The following information applies to the questions displayed below] Cascade Company was started...

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Required information [The following information applies to the questions displayed below] Cascade Company was started on January 1, Year 1, when it acquired $163,000 cash from the owners. During Year 1, the company earned cash revenues of $92,800 and incurred cash expenses of $60,700. The company also pald cash distributions of $12,000 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) c. Cascade is a corporation. It issued 9,000 shares of $8 par common stock for $163,000 cash to start the business. Required information Prepare a income statement for Year 1. Prepare a statement of changes in stockholders' equity for Year 1. Note: Deductions should be indicated by a minus sign. Required information Required information

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