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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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $495,000Cash received from additional investment of owner . . . . . . . . . . . . . 20,000Cash payments:Cash paid for operating expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . 371,500Cash paid for land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000Cash paid to owner for personal use . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000The 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.
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