In: Accounting
Astro Corporation was started with the issue of 5,500 shares of $9 par stock for cash on January 1, 2018. The stock was issued at a market price of $16 per share. During 2018, the company earned $64,100 in cash revenues and paid $42,947 for cash expenses. Also, a $3,900 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 2018 fiscal year.