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Pratt Corp. started the Year 2 accounting period with total assets of $33,000 cash, $13,500 of liabilities, and $18,000 of retained earnings. During the Year

Pratt Corp. started the Year 2 accounting period with total assets of $33,000 cash, $13,500 of liabilities, and $18,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $17,550. The bookkeeper reported that Pratt paid cash expenses of $32,500 and paid a $3,300 cash dividend to stockholders, but she could not find a record of the amount of cash revenue that Pratt received for performing services. Pratt also paid $7,500 cash to reduce the liability owed to a bank, and the business acquired $7,400 of additional cash from the issue of common stock. Assume all transactions are cash transactions.

a-1. Prepare an income statement for the 2018 accounting period.

a-2. Prepare a statement of changes in stockholders equity for the 2018 accounting period.

a-3. Prepare a period-end balance sheet for the 2018 accounting period.

a-4. Prepare a statement of cash flows for the 2018 accounting period.

B.) Determine the percentage of total assets that were provided by creditors, investors, and earnings.

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