Statement of Cash Flows Looney Inc. was organized on July 1, Year 1. A summary of cash flows for July follows. Prepare a statement of cash flows for the month ended July 31, Year 1. Use the minus sign to indicate cash out flows, decreases in cash, or cash payments. If your. answer is zero enter " 0 ", Looney Inc. Statement of Cash Flows For the Month Ended July 31, Year 1 Cash flows from operating activities: Cash flows from investing activities: Cash flows from financing activities: Check My Work