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Astro Corporation was started with the issue of 5,700 shares of $9 par stock for cash on January 1, Year 1. The stock was issued at a market price of $19 per share. During Year 1, the company earned $64,250 in cash revenues and paid $43,048 for cash expenses. Also, a $3,200 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Balance Sheet Statement of Cash Flows

Astro Corporation was started with the issue of 5,700 shares of $9 par stock for cash on January 1, Year 1. The stock was issued at a market price of $19 per share. During Year 1, the company earned $64,250 in cash revenues and paid $43,048 for cash expenses. Also, a $3,200 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Balance Sheet Statement of Cash Flows

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Astro Corporation was started with the issue of 5,700 shares of $9 par stock for cash on January 1, Year 1. The stock was issued at a market price of $19 per share. During Year 1, the company earned $64,250 in cash revenues and paid $43,048 for cash expenses. Also, a $3,200 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Balance Sheet Statement of Cash Flows
Transcribed Image Text:Astro Corporation was started with the issue of 5,700 shares of $9 par stock for cash on January 1, Year 1. The stock was issued at a market price of $19 per share. During Year 1, the company earned $64,250 in cash revenues and paid $43,048 for cash expenses. Also, a $3,200 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Statement Stmt of Changes Balance Sheet Statement of Cash Flows
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