Received $$14,500$ cash from the issue of common stock.

Performed services on account for $$45,000.$

Paid the utility expense of $$1,300.$

Collected $$36,290$ of the accounts receivable.

Recorded $$6,350$ of accrued salaries at the end of the year.

Paid a $$1,250$ cash dividend to the stockholders.

b$.$ Prepare the income statement, statement of changes in stockholders' eq Year $1$ accounting period.

Complete this question by entering your answers in the tabs belou

Req B$1$ Req B$2$ Req B$3$ Req B$4$

Prepare the balance sheet for the Year $1$ accounting period.

$\backslash$table$[[$MILEA INCORPORATED$],[$Balance Sheet$],[$As of December $31,$ Year $1],[$Assets$],[$Cash$],[$Accounts receivable$],[,,],[$Total assets,$$,0],[$Liabilities$],[],[],[$Total liabilities,$$,0],[$Stockholders$\text{'}$ Equity$],[],[],[],[$Total stockholders' equity$],[$Total liabilities and stockholders' equity$]]$