1. Received $14,000 cash from the issue of common stock. 2. Performed services on account...
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1. Received $14,000 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,150. 4. Collected $39,480 of the accounts receivable. 5. Recorded $6.900 of accrued salaries at the end of the year. 6. Paid a $950 cash dividend to the stockholders. Exercise 2-3A Part b b-1. Prepare the income statement. MILEA, INC. Income Statement For the Year Ended December 31, Year 1 Expenses Total expenses 0 Required information b-2. Prepare the statement of changes in stockholders' equity. MILEA, INC. Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock $ 0 Ending common stock Beginning retained earnings 0 Ending retained earnings Total stockholders' equity 0 A Required information MILEA, INC. Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities 15 $ 0 Net cash flow from operating activities Cash flow from investing activities Cash flow from financing activities 0 Net cash flow from financing activities Net change in cash 0 S Ending cash balance
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