In the backend if you click on Appearance > Widgets, on the right side you will see the available widget areas, including Footer Column 1 through 4. These are the four widget areas on the bottom of each page and the one you mentioned is Column 1. If you click on the little arrow on the right side of the Footer Column 1 Widget area, it will open up to reveal that its empty.
On the left side are all the various widgets that you can drag and drop into the particular widget area. So lets say you grab Text Area widget and drag and drop it into Footer Column 1. It will open up and Show a title, and body. So you write something, save and refresh the page of the site and you will see that the left most column in the footers now contains your text.
The total number of widget areas in the footer can be between one wide column or all the way up to 5 columns. Go to Corona > Theme Options > Footer, where you can select the number you want.
I suggest you start watching you tube follow along tutorials as well as experiment with different theme options and WordPress components.