Use T accounts to record each transaction and calculate ending accounts balances at December 31, 2017.

HW12#14: Prepare Statement of Cash Flows The General Ledger accounts for Pratt Corporation reported the following account balances at December 1, 2017. Cash $50,000, Accounts Receivable $100,000, Inventory $200,000, and Accounts Payable $60,000. Presented below are selected cash transactions during December for recording. (12 points) 1. Issued $10,000 in common stock for cash. 2. Purchased delivery truck for $20,000 cash. 3. Collected $50,000 cash on Accounts Receivable. 4. Issued $15,000 Notes Payable (due 2020) 5. Purchased $25,000 in inventory. 6. Paid $10,000 cash on Accounts Payable. 7. Purchased new sprinkler system $6,000 cash. Instructions: a. Use T Accounts to record each transaction and calculate ending accounts balances at December 31, 2017. (5 pts) Identify each transaction by business activities. (2 pts) b. 1216 Prepare the Statement of Cash Flows for Pratt Corporation. (5 pts)