Prepare a statement of cash flows for Ousel Travel Service for the year ended November 30, 2016. Refer to the cash receipts and cash payments information given in the instructions and to 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. A colon (:) and the word Deduct will automatically appear if they are required. Enter amounts that represent cash outflows as negative numbers using a minus sign.

A summary of cash flows for Ousel Travel Service for the year ended November 30, 2016, follows. The cash balance as of December 1, 2015, was $203,000.

Cash Flows
Cash receipts:
Cash received from customers	$1,465,000
Cash received from additional investment of owner	50,000
Cash payments:
Cash paid for operating expenses	1,230,000
Cash paid for land	150,000
Cash paid to owner for personal use	30,000