Problem: Module 3 Textbook Problem 11 Learning Objectives: - 3-9 Identify the primary characteristics of sole proprietorships, partnerships, and corporations - 3-12 Show how issuing different classes of stock affects financial statements Astro Corporation was started with the issue of 5,000 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 $59,950 in cash revenues and paid $40,167 for cash expenses. Also, a $4,300 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. Prepare the income statement. Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astri Corporation's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Prepare the income statement. Prepare a statement of changes in stockholders' equity. Prepare a balance sheet