Required information [The following information applies to the questions displayed below.] Milea Inc. experienced the following events in Year 1, its first year of operations: 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 $1,350. 4. Collected $38,780 of the accounts receivable. 5. Recorded $5,250 of accrued salaries at the end of the year. 6. Paid a $1,500 cash dividend to the stockholders. b. 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. Req B1 Req B2 Req B3 Prepare the statement of changes in stockholders' equity for the Year 1 accounting period. Ending common stock Beginning retained earnings MILEA INC. Statement of Changes in Stockholders' Equity or the Year Ended December 31, Year 1 Beginning common stock Ending retained earnings Total stockholders' equity Req B4
Required information [The following information applies to the questions displayed below] Milea Inc experienced the following events in Year 1, its first year of operations: 1. Recelved $14,000 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,350 4. Collected $38,780 of the accounts recelvable. 5. Recorded $5,250 of accrued salaries at the end of the year. 6. Paid a $1,500 cash dividend to the stockholders. 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. Complete this question by entering your answers in the tabs below. Prepare the balance sheet for the Year 1 accounting period. repare the statement of cash flows for the Year 1 accounting period. (Enter cash outflows with a minus sign.) \begin{tabular}{|l|r|r|} \hline \multicolumn{2}{|c|}{ MILEA INC. } \\ \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline \multicolumn{2}{|c|}{ For the Year Ended December 31, Year 1} \\ \hline Revenue & & $45,000 \\ \hline Expenses & & \\ \hline Utilities expense & $1,350 & \\ \hline Salaries expense & 5,250 & \\ \hline & & \\ \hline Total expenses & & \\ \hline & & $3,600 \\ \hline \end{tabular}
