Astro Corporation was started with the issue of 4,800 shares of $9 par stock for cash on January 1, Year 1. The stock was issued at a market price of $16 per share. During Year 1, the company earned $71,700 in cash revenues and paid $48,039 for cash expenses. Also, a $3,400 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 Stmt of Statement Changes Balance Sheet Stmt of Cash Flows Prepare the income statement. ASTRO CORPORATION Income Statement For the Year Ended December 31 Year 1

Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
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Chapter12: Statement Of Stockholders’ Equity (stockeq)
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Problem 3R: Chen Corporation began 2012 with the following stockholders equity balances: The following selected...
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Astro Corporation was started with the issue of 4,800 shares of $9 par stock for cash on January 1, Year 1. The stock was issued at a
market price of $16 per share. During Year 1, the company earned $71,700 in cash revenues and paid $48,039 for cash expenses. Also,
a $3,400 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
Stmt of
Statement Changes
Balance
Sheet
Stmt of Cash
Flows
Prepare the income statement.
ASTRO CORPORATION
Income Statement
For the Year Ended December 31, Year 1
< Income Statement
Stmt of Changes >
Transcribed Image Text:Astro Corporation was started with the issue of 4,800 shares of $9 par stock for cash on January 1, Year 1. The stock was issued at a market price of $16 per share. During Year 1, the company earned $71,700 in cash revenues and paid $48,039 for cash expenses. Also, a $3,400 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 Stmt of Statement Changes Balance Sheet Stmt of Cash Flows Prepare the income statement. ASTRO CORPORATION Income Statement For the Year Ended December 31, Year 1 < Income Statement Stmt of Changes >
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