Prat Corp. started the 2018 accounting period with $30,000 of assets (all cash), $12,000 of liabilities, and $13,000 of common stock. During the year, the Retained Earnings account increased by $7,550. The bookkeeper reported that Pratt paid cash expenses of $26,000 and paid a $2,000 cash dividend to the stockholders, but she could not find a record of the amount of cash that Pratt received for performing services. Pratt also paid $3,000 cash to reduce the liability owed to the bank, and the business acquired $4,000 of additional cash from the issue of common stock.

Required

a. Prepare an income statement, statement of changes in stockholders' equity, period-end balance sheet, and statement of cash flows for the 2018 accounting period.

b. Determine the percentage of total assets that were provided by creditors, investors, and earnings. Round to three decimal places.

c. Determine the balance in the Revenue, Expense, and Dividends accounts as of January 1, 2019.