nl AT&T; Wi-Fi 10:21 PM ezto.mheducation.com connect. Ant Question 3 00 painas A

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nl AT&T; Wi-Fi 10:21 PM ezto.mheducation.com connect. Ant Question 3 00 painas Astro Corporation was started with the issue of 5,300 shares of $9 par common stock for cash on January 1, 2016. The stock was issued at a market price of $18 per share. During 2016, the company earned $61,150 in cash revenues and paid $40,971 for cash expenses. Also a $4,100 cash dividend was paid to the Required Prepare an income statement, statement of changes in stockholders equity, balance sheet, and statement of cash flows for Astro Corporation's 2016 fiscal year. (Statement of Cash Flows only, items to be deducted must be indicated with a negative amount. Round your answers to the nearest whole dollar amount.) Income Stabment Balence Sheet

Explanation / Answer

Calculations and explanations:

Cash balance at the end of the year = cash raised through issue of shares + revenues - cash expenses - cash dividends

= 95,400+61,150-40,971-4,100

= 111,479

ASTRO CORPORATION Income Statement Revenues 61,150.00 less: cash expenses 40,971.00 Net income 20,179.00

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