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Required information [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1, when it acquired $169,000 cash from the owners. During Year 1, the company earned cash revenues of $97,900 and incurred cash expenses of $65,500. The company also paid cash distributions of $7,500. 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.) a. Cascade is a sole proprietorship owned by Carl Cascade