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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 $157,000 cash from the owners. During Year 1, the company earned cash revenues of $98,600 and incurred cash expenses of S67,600. 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.) a. Cascade is a sole proprietorship owned by Carl Cascade (Amounts to be deducted should be indicated with minus sign.) CASCADE COMPANY Income Statement For the Year Ended December 31, Year 1 CASCADE COMPANY Capital Statement For the Year Ended December 31, Year 1 CASCADE COMPANY Baca se As of December 3 Years Assets Total Assets Liabilities Equity Total abilities and cuty CASCADE COMPANY Sentet e Flows Cash tow from ng activities et canto tome Cash flows from investigate Cashflows from finanong acces Netshoto francis aces

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