A summary of cash flows for Ethos Consulting Group for the year ended May 31, 2016, follows:

Cash receipts:
Cash received from customers	$633,500
Cash received from additional investment of owner	65,000
Cash payments:
Cash paid for operating expenses	485,000
Cash paid for land	84,000
Cash paid to owner for personal use	18,500

The cash balance as of June 1, 2015, was $52,000.

Prepare a statement of cash flows for Ethos Consulting Group for the year ended May 31, 2016. Refer to the Instructions and the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. The word Deduct and a colon (:) will automatically appear if it is required. Enter amounts that represent cash outflows as negative numbers using a minus sign.

Labels and Amount Descriptions

Labels
Cash flows from financing activities
Cash flows from operating activities
Cash flows from investing activities
For the Year Ended May 31, 2016
Amount Descriptions
Cash as of May 31, 2016
Cash as of June 1, 2015
Net cash flows from financing activities
Net cash flows from investing activities
Net cash flows from operating activities
Net cash flows used for financing activities
Net cash flows used for investing activities
Net cash flows used for operating activities
Net decrease in cash during year
Net increase in cash during year

Statement of Cash Flows

Prepare a statement of cash flows for Ethos Consulting Group for the year ended May 31, 2016. Refer to the Instructions and the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. The word Deduct and a colon (:) will automatically appear if it is required. Enter amounts that represent cash outflows as negative numbers using a minus sign.