pls help! follow the format.
In 2019, founder and CEO Alessandra Pronti commenced business as Pronti & Co., Inc., a rather exquisite line of expensive women's clothing. Since she took Fundamentals of Accounting, she knew that a good accounting team was necessary in order to be successful in her new venture. The first professional she hired was Alyssa Salvato, CPA to handle all her accounting functions. In order to prepare the company's Financial Statements, Ms. Salvato has asked you to assist her with the following transactions. 1) Pronti & Co., Inc. was started when it acquired $10,000 cash by issuing common stock. 2) The company borrowed $25.000 from The First Bank of Montclair. 3) Pronti & Co., Inc. provided services to its only customer, Zheng International and received $29,000 cash. 4) The company paid operating expenses of $8,300. 5) Pronti & Co., Inc. paid $7,000 down on their loan. 6) The company paid $5,000 rent to Rodriguez Realty. 7) Bought $8,000 of stock in Hurd's Hot Drinks, Inc., an up and coming coffeehouse chain, as an investment. 8) Paid cash for $3,000 in dividends to its stockholders. 9) According to the company's investment broker Sam, Hurd's Hot Drinks, Inc. securities were worth $9,000 as of December 31, 2019, a rather nice unrealized appreciation in the stock recently purchased.. Required: a) Record the above transactions on a horizontal statements model, reflecting their effect on the different financial statement b) Prepare Pronti & Co., Inc.'s income statement, balance sheet and statement of cash flows for the year ended December 31, 2019 THIS I Pronti & Co., Inc. Income Statement For the Year Ended December 31, 2019 Revenue Rent expense Operating expenses Net Income Pronti & Co., Inc. Balance Sheet As of December 31, 2019 Assets Cash Marketable Securities Inventory Land Total Assets Loan Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liab. and Stockholders' Equity Pronti & Co., Inc. Statement of Cash Flows As of December 31, 2019 Cash received from operating activities Inflows from customers Outflows for operating expenses Outflows for rent expense Net Cash Flow from Operating Act. Cash Outflows for Investing activities Cash flows from Financing activities Inflows from bank loans Outflows for bank loans Inflows from issuance of Comm.Stk Outflows for Dividends paid Net Cash Flow from Financing Act. Net Change in Cash Plus: Beginning Cash Balance Ending Cash Balance Horizontal Worksheet Balance Sheet Liabilities + Assets Stock. Equity Income Statement Rev. Exp. =Net Inc. Stmt. of Cash Flows Event Investments Inventory Bank Loan Cash Com. Stock + Land Ret. Earn. + + 1. 2 3. 4. 5. 6. 7. 8. 9. + + + + + + + + + + Bal. In 2019, founder and CEO Alessandra Pronti commenced business as Pronti & Co., Inc., a rather exquisite line of expensive women's clothing. Since she took Fundamentals of Accounting, she knew that a good accounting team was necessary in order to be successful in her new venture. The first professional she hired was Alyssa Salvato, CPA to handle all her accounting functions. In order to prepare the company's Financial Statements, Ms. Salvato has asked you to assist her with the following transactions. 1) Pronti & Co., Inc. was started when it acquired $10,000 cash by issuing common stock. 2) The company borrowed $25.000 from The First Bank of Montclair. 3) Pronti & Co., Inc. provided services to its only customer, Zheng International and received $29,000 cash. 4) The company paid operating expenses of $8,300. 5) Pronti & Co., Inc. paid $7,000 down on their loan. 6) The company paid $5,000 rent to Rodriguez Realty. 7) Bought $8,000 of stock in Hurd's Hot Drinks, Inc., an up and coming coffeehouse chain, as an investment. 8) Paid cash for $3,000 in dividends to its stockholders. 9) According to the company's investment broker Sam, Hurd's Hot Drinks, Inc. securities were worth $9,000 as of December 31, 2019, a rather nice unrealized appreciation in the stock recently purchased.. Required: a) Record the above transactions on a horizontal statements model, reflecting their effect on the different financial statement b) Prepare Pronti & Co., Inc.'s income statement, balance sheet and statement of cash flows for the year ended December 31, 2019 THIS I Pronti & Co., Inc. Income Statement For the Year Ended December 31, 2019 Revenue Rent expense Operating expenses Net Income Pronti & Co., Inc. Balance Sheet As of December 31, 2019 Assets Cash Marketable Securities Inventory Land Total Assets Loan Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liab. and Stockholders' Equity Pronti & Co., Inc. Statement of Cash Flows As of December 31, 2019 Cash received from operating activities Inflows from customers Outflows for operating expenses Outflows for rent expense Net Cash Flow from Operating Act. Cash Outflows for Investing activities Cash flows from Financing activities Inflows from bank loans Outflows for bank loans Inflows from issuance of Comm.Stk Outflows for Dividends paid Net Cash Flow from Financing Act. Net Change in Cash Plus: Beginning Cash Balance Ending Cash Balance Horizontal Worksheet Balance Sheet Liabilities + Assets Stock. Equity Income Statement Rev. Exp. =Net Inc. Stmt. of Cash Flows Event Investments Inventory Bank Loan Cash Com. Stock + Land Ret. Earn. + + 1. 2 3. 4. 5. 6. 7. 8. 9. + + + + + + + + + + Bal
