A summary of cash flows for Ethos Consulting Group for the year ended May 31, 2019, follows: Cash receipts:

A summary of cash flows for Ethos Consulting Group for the year ended May 31, 2019, follows:

Cash receipts:
Cash received from customers $637,500
Cash received from additional investment of owner 62,500

Cash payments:
Cash paid for operating expenses 475,000
Cash paid for land 90,000
Cash paid to owner for personal use 17,500

The cash balance as of June 1, 2018, was $58,000.
Prepare a statement of cash flows for Ethos Consulting Group for the year ended May 31, 2019.

Answers:

Cash flows from operating activities: 
Cash receipts from customers
Cash payments for operating expenses
Net cash flow from operating activities
Cash flows used for investing activities:
Cash payments for purchase of land
Cash flows from financing activities:
Cash receipts from owner as investment
Cash withdrawals by owner
Net cash flow from financing activities
Net increase in cash during year
Cash as of June 1, 2018
Cash as of May 31, 2019
ETHOS CONSULTING GROUP
Statement of Cash Flows
For the Year Ended May 31, 2019
$162,500
(475,000)
$ 637,500
$175,500