Astro Corporation was started with the issue of 2,000 shares of $5 par stock for cash on January 1, Year 1. The stock was issued at a market price of $12 per share. During Year 1, the company earned $31,000 in cash revenues and paid $17,100 for cash expenses. Also, a $2,000 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.