Statement of cash flows
A summary of cash flows for Ethos Consulting Group for the year ended May 31, 2014, is shown below.
|
Cash receipts: |
|
|
Cash received from customers |
$637,500 |
|
Cash received from issuing capital stock |
62,500 |
|
Cash payments: |
|
|
Cash paid for operating expenses |
475,000 |
|
Cash paid for land |
90,000 |
|
Cash paid for dividends |
17,500 |
The cash balance as of June 1, 2013, was $58,000.
Prepare a statement of cash flows for Ethos Consulting Group for the year ended May 31, 2014.