(Solved): Milea Incorporated experienced the following events in Year 1, its first year of operations:   ...

Milea Incorporated experienced the following events in Year 1, its first year of operations:

 

1. Received $15,500 cash from the issue of common stock.
2. Performed services on account for $45,000.
3. Paid the utility expense of $1,200.
4. Collected $30,560 of the accounts receivable.
5. Recorded $5,350 of accrued salaries at the end of the year.
6. Paid a $1,450 cash dividend to the stockholders.

 

o. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and sta: Year 1 accounting period. Complete this question by entering your answers in the tabs below. Prepare the income statement for the Year 1 accounting period. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for the Year 1 accounting period. Complete this question by entering your answers in the tabs below. Prepare the statement of changes in stockholders' equity for the Year 1 accounting period. Prepare the balance sheet for the Year 1 accounting period. \begin{tabular}{|l||l|l||} \hline Req B1 & Req B2 & Req B3 \\ \hline \end{tabular} Req B4 Prepare the statement of cash flows for the Year 1 accounting period. (Enter cash outflows with a minus sign.)