Connect e Bozeman Corporation W Ye5olvec Ettec or account X

Connect e Bozeman Corporation W × Ye5olvec: Ettec: or account X × CSecure https:// w8.2 Help Save & Exit Submit Check my work Astro Corporation was started wlth the Issue of 5,900 shares of $11 par stock for cash on January 1, 2018. The stock was Issued at a market price of $18 per share. During 2018, the company eamed $56,950 in cash revenues and paid $38,157 for cash expenses. Also, a $4,500 cas dividend was paid lo le slockolders 2.5 points Required Prepare an income statement, statement of changes in stockholders\' equity, balance sheet, and statement of cash flows for Astro Corpoalian\'s 2018 fiscal yea. eBook Complctc this qucstion by cntering your answers in the tabs below Income Statement Smt chgs in Shlds Eqy Smt o Cash Fls Balarice Sheet Prepare the income statement. ASTRO CORPORATION Income Statement For the Year Ended December 31, 2018 S 56,950 (38,157 18,793 Smt chgs In Shlds Eqy > Prex of 3 Next> O Type here to search :55 PM 710/2018 2

Solution

Income Statement: Revenues 56950 Less: Expenses 38157 Net income 18793 Statement of changes in Stockholders\' equity: Paid in capital 5900 Common Stock of $11 each 64900 Additional paid in capital 41300 Total paid in cpaital 106200 Retained earnings (18793-4500) 14293 Stockholder\'s equity 120493 Balance Sheet: Assets Cash (106200+56950-38157-4500) 120493 Total Assets 120493 Liabilities and Sstockholdere\'s equity Stockholder\'s equity 120493 Total liabilities and Equity 120493 Cash flow Statement Cash flows from Operating activities Receipts from revenue 56950 Cash paid for expenses 38157 Net cash provided from operating activities 18793 Cash flows from Investing activities 0 Cash flows from Financing activities Issue of common Stock 106200 Dividend paid -4500 Net cash provided from financing activities 101700 Net increasse in cash 120493 Beginning balance 0 Ending balance in cash 120493