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.
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