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Required information [The following information applies to the questions displayed below.] Pratt Corporation started the Year 2 accounting period with total assets of $34,000 cash,

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Required information [The following information applies to the questions displayed below.] Pratt Corporation started the Year 2 accounting period with total assets of $34,000 cash, $14,000 of liabiaties, and $9,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $11,550. The bookkeeper reported that Pratt paid cash expenses of $28,000 and paid a $2,400 cash dividend to stocicholders, but she could not find a record of the amount of cash revenue that Pratt received for performing services. Pratt also paid $7,000 cash to reduce the liability owed to a bank, and the business acquired $7,700 of additional cash from the issue of common stock. Assume all transactions are cash transactions. b. Prepare the Year 2 statement of changes in stockholders' equity

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