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Connect C Secure I https://new connect.mheducation.com/flow/connect.html ::: Apps Ro k marks Down nad music, m- Ru utemame Rlackboard earn The Ricklist Watch O "atm Ma es Onlir HRU Port -Top 100 M ies of A How to Dr etNa e Tool TH2 w r Rase l my it k Chap 8 Prob 20 Help Save & Exit Submit Check my work 3 Required information Part 3 of 3 The following information applies to the questions displayed belowJ Cascade Company was started on January 1, 2018, when it acquired $152,000 cash from the owners. During 2018, the company earned cash revenues of $86,700 and Incurred cash expenses of $62,900. The company also pald cash distributions of $5,500. 10 points Required Prepare a 2018 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) cBonk References c. Cascade is a corporation. It issued 12.000 shares of $8 par common stock for $152,000 cash to start the business. Complete this question by entering your answers in the tabs below Inc Stmt Hal Sheet Cash lows Prepare a income statement for 2018 K Pre of3. Next Hill O Type here to search ^.iei 4x ENG 11/25 2:12 AM 1125/201717

Explanation / Answer

Prepare income statement :

Prepare stockholder's equity section :

Balance sheet :

Cash flow :

Revenue 86700 Less: Expenses (62900) Net income 23800

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