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Question No. 01 (10 Marks) An Accountant was hired for ABC Company who have prepared the following income statement for the month of August 2015: Revenues Expenses Services provided to customers $15000 Payment to long term creditors $12000 Expenses required to provide services Investment by stockholders $5000 to customers $7,500 Loan from bank $15000 Total expenses $35,500 Total Revenue $35,000 Net loss $500 Purchase of land $16,000 a. Prepare a revised income statement in accordance with generally accepted accounting principles. b.Based on the information for ABC Corporation, prepare a statement of cash flow considering the beginning cash balance was $7200