each part needs its own income statement, statement of changes, balance sheet and cash flow chart.

Required information Problem 8-20A (Algo) Effect of business structure on financial statements LO 8-1 [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $151,000 cash from the owners. During Year 1, the company earned cash revenues of $93,300 and incurred cash expenses of $68,800. The company also paid cash distributions of $6,000. Required Prepare a Year 1 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.) Problem 8-20A (Algo) Part a a. Cascade is a sole proprietorship owned by Carl Cascade. Complete this question by entering your answers in the tabs below. Prepare an income statement for Year 1. Required information Problem 8-20A (Algo) Effect of business structure on financial statements LO 8-1 [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $151,000 cash from the owners. During Year 1, the company earned cash revenues of $93,300 and incurred cash expenses of $68,800. The company also paid cash distributions of $6,000. Required Prepare a Year 1 income statement, capital statement (statement of changes in equity). balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.) Problem 8-20A (Algo) Part b b. Cascade is a partnership with two partners, Carl Cascade and Beth Cascade. Carl Cascade invested S67,950 and Beth Cascade invested $83,050 of the $151,000 cash that was used to start the business. Beth was expected to assume the vast majority of the responsibility for operating the business. The partnership agreement called for Beth to receive 55 percent of the profits and Cari to get the remaining 45 percent. With regard to the $6,000 distribution, Beth withdrew $3,300 from the business and Carl withdrew $2,700. Complete this question by entering your answers in the tabs below. Prepare a income statement for Year 1. Required information Problem 8-20A (Algo) Effect of business structure on financial statements LO 8-1 [The following information applies to the questions displayed below] Cascade Company was started on January 1, Year 1, when it acquired $151,000 cash from the owners. During Year 1, the company earned cash revenues of $93,300 and incurred cash expenses of $68,800. The company also paid cash distributions of $6.000. Required Prepare a Year 1 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.) Problem 8-20A (Algo) Part c c. Cascade is a corporation. It issued 12,000 shares of $10 par common stock for $151,000 cash to start the business. Complete this question by entering your answers in the tabs below. Prepare a income statement for Year 1 . Prepar a capital statement for Year 1. (Deductions should be indicated by a n Prepare a balance sheet for Year 1 . Prepare a statment of cash flows for Year 1 . (Cash outflows should be indicated with a minus sign.)