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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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