Using the information provided below, please prepase an income statement, retained earnings

statement, balance statement, and cash flows statement.

Net Income $=$$$230,000$ Total Assets $=$$$530,000$ Net cash flows from operating activities $=$$$33,000.$

Hint: Remember this is the first year of operations ie Retained earnings equals $"$O$"$ to begin. Determine

the net income first by completing the income statement below. Next, find ending retained earnings by

completing the retained earnings statement below. Finally, solve for cash by adding up all the assets

and subtracting this figure from the sum of Liabilities plus owners equity.

Cassandra Corporation began operations on January $1,$ Year $1,$ as an online retailer of computer

software and hardware. The following financial statement data were taken from Cassandra's

records at the end of its first year of operations, December $31,$ Year $1.$