Pantera Inc. was organized on May 1, 2011. A summary of cash flows for May follows.

Cash receipts:

Cash received from customers                        $300,000

Cash received for capital stock                           275,000

Cash received from note payable                        55,000

Cash payments:

Cash paid out for expenses                              $180,000

Cash paid out for purchase of equipment         95,000

Cash paid as dividends                                          15,000

Prepare a statement of cash flows for the month ended May 31, 2011.