Assignment 1 4 12 points Print References An inexperienced accountant for Prestwick Company prepared the following income statement for the month of August, current year. Revenues: Services provided to customers Investment by shareholders Loan from bank Expenses: Payments to long-term creditors Expenses required to provide services to customers Purchase of land Net loss PRESTWICK COMPANY Statement of Cash Flows For the Month Ended August 31, Current Year Cash flows from operating activities: PRESTWICK COMPANY AUGUST 31, CURRENT YEAR Cash paid for expenses Cash paid to long-term creditors Net cash provided by operating activities Cash flows from investing activities: Cash paid for purchase of land Net cash used in financing activities Cash flows from financing activities: 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 $14,800. (List any deduction in cash and cash outflows as negative amounts.) holder $ $ 14,000 4,200 13,000 S $ 14,000 9,000 17,000 14,000 17,000 $ 31,200 4,200 40,000 $ 8,800 Saved 14,000 17,000

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 consustent weth genercly accepted accounthe principles. You otilows as nepathe amotints