Statement of cash flows OBJ. 5 A summary of cash flows for Ethos Consulting Group for the year ended May 31, 2016, 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, 2015, was $58,000.

Prepare a statement of cash flows for Ethos Consulting Group for the year ended May 31, 2016.