A summary of cash flows for Leotard Travel Service for the year ended February 28, 2008, is shown below.
|
Cash receipts: |
|
|
Cash received from customers |
$350,000 |
|
Cash received from additional investment of owner |
18,000 |
|
Cash payments: |
|
|
Cash paid for operating expenses |
365,000 |
|
Cash paid for land |
27,000 |
|
Cash paid to owner for personal use |
10,000 |
The cash balance as of March 1, 2007, was $56,700. Prepare a statement of cash flows for Leotard Travel Service for the year ended February 28, 2008.