Statement of Cash Flows A summary of cash flows for Paradise Travel Service for the year ended May 31, 2016, follows: Cash receipts: Cash received from customers $880,000 Cash received from issuing common stock 40,000 Cash payments: Cash paid for operating expenses 758,000 Cash paid for land 150,000 Cash paid as dividends 10,000 The cash balance as of June 1, 2045, was $50,000. Prepare a statement of cash flows for Paradise Travel Service for the year ended May 31, 20Y6. Use the minus sign to in cash payments and decreases in cash. I Paradise Travel Service Statement of Cash Flows For the Year Ended May 31, 2016 Cash flows from (used for) operating activities: Cash received from customers 380,000 Cash paid for operating expenses Net cash flows from operating activities Cash flows from (used for) investing activities: Cash paid for purchase of land Cash flows from (used for) financing activities: Cash received from issuing common stock Cash paid for dividends 122,000 40,000