On the basis of the information for Prestwick Company in Exercise 2.13, prepare a statement of cash flows in a form consistent with generally accepted accounting principles. You may assume all transactions were in cash and that the beginning cash balance was $7,200.

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PRESTWICK COMPANY AUGUST 31, 2015 $17,000 5,000 Loan from bank Expenses: $11,700 Expenses required to provide 7,800 16,000 35,500 $1,500