The following cash T-account for Miller Manufacturing summarizes all the transactions affecting cash during 2017 with a December 31 closing date.

a. Compute the ending cash balance.
b. Prepare a statement of cash flows.

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Cash Beginning balance Sales of services Receivables collections Sale of land Issuance of common stock Long-term borrowings 9,000 Equipment purchases 24,000 Rent payable payments 45,000 7,000 12,000 Bank loan principal 50,000 7,500 Loan interest 15,000 Salaries and wages expense 16,000 Dividend payments Miscellaneous expenses Long-term investment purchase 3,000 26,500 4,000 13,000 10,000