Hoist inc was organized on march 1 2007 a summary of cash

Question

Question: Hoist Inc. was organized on March 1, 2007. A summary of cash flows for March is shown below.

Cash receipts:

- Cash received from customers                                        $ 37,600

- Cash received for capital stock                                        144,000

- Cash received from note payable                                       16,000

- Cash payments: Cash paid out for expenses                      $ 13,360

- Cash paid out for purchase of equipment                           120,000

- Cash paid as dividends                                                      8,000

- Prepare a statement of cash flows for the month ended March 31, 2007.