Chapter 1, Problem 1.24EX

Statement of cash flows

A summary of cash flows for Ethos Consulting Group for the year ended May 31, 2018, follows:

Cash receipts:
Cash received from customers	$637,500
Cash received from issuing common 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, 2017, was $58,000.

Prepare a statement of cash flows for Ethos Consulting Group for the year ended May 31, 2018.