P2. David opened an IT Services Business on January 1, 2015 by investing $40,000 of her own money. Cash balance as of Jan. 1, 2017 was $12,000. During 2017, Jan had the following transactions 1) Borrowed $40,000 from bank by issuing a 5-year note. 2) Provided $150,000 of services, collected $120,000 of it, the rest was on account 3) Sold its old equipment at book value, $2,000 in cash 4) Purchased new equipment for $25,000 in cash. 5) Paid $6,000 for utilities- phone, electricity, water, etc. 6) Paid $4,000 to bank, of which $1,200 was for interest and the rest was for payoff of principal of a loan. 7) Took $10,000 as dividend. 8) Purchased $3000 supplies, paid $2,000 in cash and the rest was on account 9) Paid $12,000 for rent. 10) Recorded $4,000 depreciation expense on equipment. 11) Paid $4,000 to IRS for income tax. 12) Paid herself $70,000 as salaries. 13) Recorded $2,200 used up supplies at the end of the year. Prepare an organized Statement of Cash Flows in the space provided on Answers Sheet