A summary of cash flows for Webster Consulting Group for the year ended July 31, 2008, is shown below.
|
Cash receipts: |
|
|
Cash received from customers |
$495,000 |
|
Cash received from additional investment of owner |
20,000 |
|
Cash payments: |
|
|
Cash paid for operating expenses |
371,500 |
|
Cash paid for land |
40,000 |
|
Cash paid to owner for personal use |
9,000 |
The cash balance as of August 1, 2007, was $46,750. Prepare a statement of cash flows for Webster Consulting Group for the year ended July 31, 2008.