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An inexperienced accountant for Prestwick Company prepared the following income statement for the month of August, current year. Based on the information prepare a statement
An inexperienced accountant for Prestwick Company prepared the following income statement for the month of August, current year. Based on the information prepare a statement of cash flows in a form consistent with generally accepted accounting principles. You may assume all transactions were in cash and that the beginning cash balance was $9,600. (List any deduction in cash and cash outflows as negative amounts.)
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