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.